WTI recently broke through the round resistance level 70.00. The breakout of the resistance level 70.00 should accelerate the active impulse waves (iii) and iii – which belong to the sharp upward impulse sequence C from the middle of last month. Given the prevailing uptrend and the increase expectation for the growth of oil demand on wide scale reopening in Europe and in USA – WTI can be expected to rise further toward the next resistance level 72.00 (target price for the completion of the active impulse wave (iii)).
