WTI recently broke above the resistance level 25.00 standing near the 38.2% Fibonacci retracement of the previous sharp downward impulse from the start of March. The breakout of the resistance level 25.00 should accelerate the active short-term corrective wave 4 from the middle of April. WTI is likely to rise further toward the next key resistance level 28.81 (monthly high from April) – which is the target price for the completion of the active ABC correction 4. Strong support now stands at the support level 25.00.
