• 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.
German industrial production continues to decline. The rate of contraction in March was slightly better…
US indices have been gaining daily since the beginning of May. They have found strength…
Market picture The crypto market has lost 2% of its capitalisation over the last 24…
- S&P 500 reversed from support level 5000.00 - Likely to rise to resistance level…
- USDCHF reversed from support zone - Likely to rise to resistance level 0.9200 USDCHF…
The single currency is trading near $1.076, waiting for further cues and facing serious resistance…
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