WTI crude oil can be expected to rise to the next resistance level 92.00 (low of wave (1) from the end of July).
- WTI crude oil broke resistance zone
- Likely to rise to resistance level 92.00
WTI crude oil recently broke the resistance zone between the key resistance level 87.00 (which stopped the previous minor impulse wave 1 in the middle of August, as can be seen from the daily WTI crude oil chart below), resistance trendline of the daily Triangle from May and the 50% Fibonacci correction of the downward impulse from April. The breakout of this resistance zone accelerated the active minor impulse wave 3 – that belongs to the intermediate impulse wave (3) from the start of August.
Given the clear daily uptrend and the strongly bullish sentiment that can be seen across the crude oil markets today, WTI crude oil can be expected to rise to the next resistance level 92.00 (low of wave (1) from the end of July).
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.
Other Articles
Panera makes major change to how customers earn rewards
Trump Says Rates Are “Too High” as Markets…
