Technical analysis

WTI Wave Analysis 28 April, 2021

• WTI reversed from support level 62.00

• Likely to rise to resistance level 64.45

WTI crude oil recently reversed up from the support level 62.00 (former strong resistance level from the end of March) – standing close to 50% Fibonacci correction of the previous impulse wave (1).

The upward reversal from the support level 62.00 started the active intermediate impulse wave (3).

WTI crude oil is likely to rise further toward the next key resistance level 64.45 (top of wave (1) from the middle of April) – followed by the resistance level 66.00.

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