WTI today broke through the powerful round support level 50.00 (which has been steadily reversing the price from October of 2017 – as can be seen below).
The breakout of the support level 50.00 accelerated the active medium-term impulse wave (3) – which belongs to the sharp downward impulse sequence from the star of October.
WTI is expected to fall further and re-test the next multi-month support level 42.50 (which reversed the price in the June of 2017). Strong resistance now stands at 50.00.
WTI today broke through the powerful round support level 50.00 (which has been steadily reversing the price from October of 2017 – as can be seen below).
The breakout of the support level 50.00 accelerated the active medium-term impulse wave (3) – which belongs to the sharp downward impulse sequence from the star of October.
WTI is expected to fall further and re-test the next multi-month support level 42.50 (which reversed the price in the June of 2017). Strong resistance now stands at 50.00.
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