WTI Wave Analysis – 15 April, 2020

• WTI reversed from support area
• Likely to rise to 25.00

WTI today reversed up from the support area lying between the key support level 19.65 (which stopped the previous impulse waves iii and (iii)) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the previous downward impulse sequence 3 from February.

Given the clear multi-pivot bullish divergence on the daily RSI indicator – WTI is likely to rise further toward the next resistance level 25.00.