Technical analysis

WTI Wave Analysis – 16 June, 2020

WTI Wave Analysis – 16 June, 2020

• WTI reversed from key support level 35.00
• Likely to rise 40.00

WTI recently reversed up from the key support level 35.00 (former top of the pervious short-term correction (a) from the end of May).

The upward reversal from the support level 35.00 started the active short-term correction (b) – which is a part of the medium-term wave B from the start of June.

WTI is likely to rise further toward the next round resistance level 40.00 (top of the previous wave A and the likely price for the completion of the active sub-wave (b)).

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