Technical analysis

WTI Wave Analysis 5 March, 2021

WTI Wave Analysis 5 March, 2021

• WTI broke key resistance level 63.75

• Likely to rise to resistance 70.00

WTI recently broke the key resistance level 63.75 (which stopped the previous minor impulse wave (i) from the end of February).

The breakout of the resistance level 63.75 accelerated the active impulse waves (iii) and 5 – which belong to the sharp upward impulse wave (C) from November.

WTI is likely to rise further toward the next resistance 70.00 (target for the completion of the active minor impulse wave (iii)).

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