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FxPro Forex Analysis: WTI Wave Analysis – 22 August , 2018

• WTI broke resistance zone
• Further gains are likely

WTI continues to rise sharply after the previous breakout of the resistance zone lying at the intersection of the resistance level 66.80 (former support from July) and the resistance trendline of the daily Falling Wedge from June.

The breakout of this resistance zone accelerated the active impulse wave ③ – which started recently from the strong support level 64.00.

WTI is expected to rise further and retest the next round resistance level 70.00 (top of the previous wave (b) from June).

WTIUSD - 1 - Aug-22 1931 PM (1 day)

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