Categories: Technical analysis

WTI Wave Analysis – 29 April, 2020

  • WTI reversed from key round support level 10.00
  • Likely to rise up to 20.00

WTI recently reversed sharply once again from the key round support level 10.00 (which also reversed the price earlier this month) – starting the active impulse wave (c).

The support area near the support level 10.00 was strengthened by the lower daily Bollinger Band.

WTI is expected to rise further toward the next round resistance level 20.00 (target price for the completion of the active correction 4).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: WTIUSD

Recent Posts

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

11 hours ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

11 hours ago

WTI crude Wave Analysis 13 November 2024

- WTI crude oil reversed from the multi-year support level 66.70 - Likely to rise…

11 hours ago

Japanese inflation continues to rise

Japanese inflation is rising, with corporate goods prices inflation accelerating to 3.4% y/y in October,…

14 hours ago

Higher US inflation will not stop the Fed from cutting rates

US CPI went in line with expectations, but this hasn't changed the outlook for the…

16 hours ago

Crypto market locks in weekly rally

The crypto market experienced a slight decline in market capitalisation after a week-long rally. Bitcoin…

23 hours ago

This website uses cookies