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WTI Wave Analysis – 18 May, 2019

WTI Wave Analysis – 18 May, 2019

 
  • WTI under bullish pressure
  • Likely to rise to 35.00

WTI has been under bullish pressure after the price broke the resistance zone located between the resistance level 29.17 (top of the previous waves 4 and (ii)) and the 50% Fibonacci correction of the previous downward impulse from February.

The breakout of this resistance zone accelerated the C-wave of the active medium-term corrective wave (4). WTI is likely to rise further toward the next resistance level 35.00 (former resistance from March and the target for the completion of wave (4)).

WTI Wave Analysis – 18 May, 2019


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