Categories: Technical analysis

WTI Wave Analysis – 16 June, 2020

• WTI reversed from key support level 35.00
• Likely to rise 40.00

WTI recently reversed up from the key support level 35.00 (former top of the pervious short-term correction (a) from the end of May).

The upward reversal from the support level 35.00 started the active short-term correction (b) – which is a part of the medium-term wave B from the start of June.

WTI is likely to rise further toward the next round resistance level 40.00 (top of the previous wave A and the likely price for the completion of the active sub-wave (b)).

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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The FxPro Tech Analysis Team
Tags: WTIUSD

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