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WTI Wave Analysis – Action Forex

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  • WTI reversed from support area
  • Likely to rise to resistance level 110.00

WTI recently reversed up from the support area located between the key support level 103.25 (the previous Hammer low from May), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward price impulse 1 from April

The upward reversal from the support level 103.25 started the active minor impulse wave 3.

WTI can be expected to rise further toward the next resistance level 110.00 (former top of the minor correction (b) from the middle of June).

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