WTI Wave Analysis – 01 April, 2019

WTI broke resistance area

Further gains are likely

WTI continues to rise after the earlier breakout of the resistance area lying between the round resistance level 60.00 and the 50% Fibonacci correction of the previous sharp weekly downward impulse wave from last September.

The breakout of this resistance area should accelerate the active medium-term ABC correction ② from December.

WTI is expected to rise further and re-test the next resistance level 64.00 (target price for the completion of the active ABC correction ②).

Source: FxPro