WTI Crude Eyes $68-$73 Elliott Wave Target After Triangle Breakdown

WTI crude oil has extended its post-ceasefire selloff, breaking below a symmetrical triangle and key moving averages to settle at $88.20 on June 9—its lowest close since April 21. The decline followed failed rallies to $97-$99 on fading geopolitical risk after the 10-week US-Iran truce, with prices now consolidating under $87.50. Latest Elliott Wave analysis projects a move into the $68-$73 zone, while the 100-day SMA near $86.80 remains the immediate line in focus amid record US output and soft demand.