- WTI broke daily down channel
- Further gains are likely
WTI recently broke the resistance trendline of the daily down channel from July – which enclosed the previous short-term ABC correction C.
The breakout of this down channel should accelerate the active impulse wave 3 – which belongs to the medium-term upward impulse (C) from major support level 52.00.
WTI is expected to rise further and retest the next resistance level 59.00 (which reversed earlier wave (ii) in July).