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WTI Wave Analysis – 01 April, 2019

  • WTI broke resistance area
  • Further gains are likely

WTI continues to rise after the earlier breakout of the resistance area lying between the round resistance level 60.00 and the 50% Fibonacci correction of the previous sharp weekly downward impulse wave from last September.

The breakout of this resistance area should accelerate the active medium-term ABC correction ② from December.

WTI is expected to rise further and re-test the next resistance level 64.00 (target price for the completion of the active ABC correction ②).

Source: FxPro

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