WTI Wave Analysis – 14 February, 2020

• WTI reversed from support area
• Likely to rise to 54.00

WTI recently reversed up sharply from the support area lying between the key round support level 50.00, lower daily Bollinger Band and the support level 51.00 (which has been reversing the price from last July).

The upward reversal from this support area started the active short-term impulse wave c of the ABC correction 4 from the start of February.

WTI is likely to rise further toward the next resistance level 54.00 (target price for the completion of the active ABC correction 4).