Given the clear daily uptrend, WTI crude oil can be expected to rise to the next resistance level 110.00 (which reversed the previous sharp upward impulse wave (1) , as can be seen from the daily WTI crude oil chart below).
- WTI crude oil broke round resistance level 100.00
- Likely to rise to resistance level 110.00
WTI crude oil recently broke the resistance area between the round resistance level 100.00 (which has been repeatedly reversing the price from the start of March, as can be seen from the daily WTI crude oil chart below) and the resistance trendline of the daily Triangle from last month. The breakout of this resistance area continues the active short-term impulse wave 3, which belongs to the intermediate impulse wave (3) from March. The active intermediate impulse wave (3) is part of the weekly upward impulse sequence from last December.
Given the clear daily uptrend, WTI crude oil can be expected to rise to the next resistance level 110.00 (which reversed the previous sharp upward impulse wave (1) , as can be seen from the daily WTI crude oil chart below).
The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.
The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.
