– WTI reversed from pivotal support level 74.00
– Likely to rise to resistance level 80.00
WTI crude oil recently reversed up from pivotal support level 74.00 (former resistance from May and June) intersecting with the lower daily Bollinger Band.
The upward reversal from the support level 74.00 created the daily Japanese candlesticks reversal pattern Piercing Line, which stopped the previous medium-term ABC correction (2).
Given the strength of the support level 74.00, WTI crude oil can be expected to rise toward the next resistance level 80.00 , the target for the completion of the active impulse wave i, top of the previous correction iv.
This week, we’re tracking the US Dollar’s powerful climb following Trump's victory, hitting a crucial…
Next week, several countries including Canada, the UK, and Japan will release their estimates of…
Investors have been selling off gold, with this week's drop being the largest in three…
The Hang Seng Index has fallen 20% from its peak, marking the start of a…
The S&P500 reached the 6000 mark but faced resistance due to fatigue and dollar appreciation.…
The crypto market has continued to cool down for the third day, with a 1.7%…
This website uses cookies