Categories: Technical analysis

WTI Wave Analysis 12 April, 2021

• WTI rising inside minor impulse wave c

• Likely to reach resistance level 62.00

WTI continues to rise inside the minor impulse wave c , which started earlier from the key support level 58.00 (which has been reversing the price from the middle of February).

The active impulse wave c belongs to the minor ABC correction B from the middle of March.

WTI is likely to rise further toward the next resistance level 62.00 (top of the previous short-term corrective wave (a) from last month).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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