Categories: Technical analysis

WTIUSD Wave Analysis – 22 November, 2019

  • WTIUSD broke resistance level 58,00
  • Likely to rise to 61.33

WTIUSD recently broke though the resistance level 58,00 (which stopped earlier waves (i) and (b)) – intersecting with the 61.8% Fibonacci correction of the previous ABC correction 2.

The breakout of the resistance level 58,00 should accelerate the active impulse waves 3 and (3).

WTIUSD is expected to rise further toward the next pivotal resistance level 61.33 (which has been reversing the price from July).

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.

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Tags: WTIUSD

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