- WTI crude oil reversed from the support zone
- Likely to rise to resistance level 70.00
WTI crude oil recently reversed up from the support zone located between the key support level 64.55 (former resistance from the end of April), the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from May.
The upward reversal from this support zone started the active medium-term ABC correction (2).
WTI crude oil can be expected to rise to the next round resistance level 70.00 (target price for the completion of the active impulse wave i).
- Likely to rise to resistance level 70.00
WTI crude oil recently reversed up from the support zone located between the key support level 64.55 (former resistance from the end of April), the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from May.
The upward reversal from this support zone started the active medium-term ABC correction (2).
WTI crude oil can be expected to rise to the next round resistance level 70.00 (target price for the completion of the active impulse wave i).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.