Given the strength of the active impulse waves iii and 5, WTI Crude Oil can be expected to rise to the next resistance level 82.00 (former resistance barrier from the start of 2024, which is also the target price for the completion of the active Wave (C)).
- WTI Crude Oil broke resistance area
- Likely to rise to resistance level 82.00
WTI Crude Oil recently broke through the resistance area between the resistance levels 76.00 (former multi-month high from June, as can be seen from the daily WTI Crude Oil chart below) and 79.15 (former strong resistance from the start of 2025). The breakout of this resistance area should accelerate the already sharp upward impulse waves iii and 5 – both of which belong to the intermediate impulse wave (C) from the end of November. Wave (C) belongs to the long-term ABC correction which started in April of 2025.
Given the strength of the active impulse waves iii and 5, WTI Crude Oil can be expected to rise to the next resistance level 82.00 (former resistance barrier from the start of 2024, which is also the target price for the completion of the active Wave (C)).
WTI Crude Oil Technical Analysis