WTI Wave Analysis – 26 July, 2022

• WTI reversed from support area

• Likely to rise to resistance level 100.00

WTI crude oil currency pair recently reversed up from the support area located between the key support level 93.40 (which has been reversing the pair from March) and the 50% Fibonacci retracement of the upward trend from December.

The upward reversal from this support area continues the active primary upward impulse wave from the middle of July.

WTI crude can be expected to rise further toward the next round resistance level 100.00 (which reversed the price earlier this month).