Market Snapshots

WTI Wave Analysis – 16 September, 2020

WTI Wave Analysis – 16 September, 2020

• WTI rising inside wave (ii)

• Likely to reach 43.55

WTI continues to rise inside the minor corrective wave (ii) – which started earlier from the support level 36.70 (former monthly low from July), intersecting with the lower daily Bollinger Band.

The active wave (ii) belongs to the short-term downward impulse wave C from the end of August.

WTI is likely to rise further toward the next resistance level 43.55 (top of the previous correction B, which is also the target price for the termination of wave (ii)).

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