WTI Wave Analysis – 28 February, 2020

• WTI falling inside sharp impulse wave 3
• Likely to rise to 42.50

WTI continues to fall inside the sharp impulse wave 3 – which previously broke through the key round support level 50.00 (which reversed the price twice at the start of February).

The breakout of the support level 50.00 accelerated the active impulse waves 3 and (C).

WTI is likely to fall further toward the next support level 42.50 (which stopped the sharp downtrend in December of 2018 and the target for the completion of the active impulse wave (C)).