WTI Crude Oil Breaks Key Resistance, Targets 92.00

WTI crude oil has broken through a key resistance zone, clearing the way for further price gains. The breakout occurred between the key resistance level of 87.00 and a trendline from May. This development is expected to accelerate the active minor impulse wave 3.

The WTI crude oil price is now likely to rise to the next resistance level at 92.00, which marks the low of wave (1) from the end of July. The daily uptrend and strongly bullish sentiment in the crude oil markets are supporting this expectation.