Technical analysis

WTI Wave Analysis 8 January, 2021

WTI Wave Analysis 8 January, 2021

• WTI broke round resistance level 50.00

• Likely to rise to 55,00

WTI recently broke above the round resistance level 50.00 (which reversed the previous upward impulse wave 2 in the middle of December).

The breakout of the resistance level 50.00 should accelerate the active impulse waves (iii) and 5.

WTI is expected to rise further toward the next resistance level 55,00 (target price for the completion of the active impulse wave (iii)).

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