Categories: Technical analysis

WTI Wave Analysis – 4 August, 2022

• WTI broke round support level 90.00

• Likely to fall to support level 85.00

WTI crude oil today broke below the key round support level 90.00 (which has been reversing the pair from the end of February).

The breakout of the support level 90.00 accelerated the active impulse wave 5 of the intermediate impulse sequence (C) from the start of June.

WTI crude oil can be expected to fall toward the next support level 85.00 (target for the completion of the active impulse wave 5).

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