Commodities
WTI Crude Oil Sees Breakout, Targets Next Resistance Level at $95.00
WTI crude oil has broken through a significant resistance zone and is expected to rise further to the next resistance level of $95.00, according to recent analysis.
The breakout occurred at the intersection of the resistance level $92.0, which has been reversing the price from June, and the 61.8% Fibonacci correction of the sharp downward impulse wave (C) from April.
This move accelerated the active minor impulse wave C of the medium-term impulse wave (3) from August, indicating a strongly bullish sentiment in the crude oil markets today.