• WTI rising inside impulse wave (iii)
• Likely to rise to resistance level 74.00
WTI recently reversed up with the daily Morning Star from the round support 70.00, intersecting with the upper trendline of the daily up channel from March.
The upward reversal from the support 70.00 stopped the previous short-term corrective wave (ii).
Given the prevailing uptrend – WTI can be expected to rise further in the active impulse wave (iii) toward the next resistance level 74.00.
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