Categories: Technical analysis

WTI Wave Analysis 3 June 2024

– WTI broke key support level 76.70

– Likely to fall to support level 72.00

WTI crude oil recently broke the key support level 76.70 (which has been steadily reversing the price from the middle of February).

The breakout of the support level 76.70 coincided with the breakout of the 61.8% Fibonacci correction of the previous upward from the start of February.

WTI crude oil can be expected to fall further to the next support level 72.00 (which stopped the previous minor correction ii in February).

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: wti

Recent Posts

ECB, BoE, and BoJ take different paths

Trump pushes for more Fed rate cuts, while no changes are expected from the ECB…

3 hours ago

Crypto Market Holds at $3T Amid Broken Uptrend

Crypto market stays near $3T amid correction, ETF inflows rise, sentiment weakens, and volatility expected…

4 hours ago

Gold Wave Analysis – 12 December 2025

Gold: ⬇️ Sell - Gold reversed from strong resistance level 4350.00 - Likely to fall to…

3 days ago

EURGBP Wave Analysis – 12 December 2025

EURGBP: ⬆️ Buy - EURGBP reversed from support zone - Likely to rise to resistance level…

3 days ago

Filecoin Wave Analysis – 12 December 2025

Filecoin: ⬇️ Sell - Filecoin broke key support level 1.435 - Likely to fall to support…

3 days ago

Ethereum Wave Analysis – 12 December 2025

Ethereum: ⬇️ Sell - Ethereum reversed from resistance level 3400.00 - Likely to fall to support…

3 days ago

This website uses cookies