WTI recently reversed up from the support zone located between the key support level 66.00 (which stopped the previous wave (2) with the daily Morning Star in the middle of July), lower daily Bollinger band and the 50% Fibonacci correction of the upward price move from the middle of March. The upward reversal from this support zone started the active minor impulse wave 3. Given the improved expectations for the demand for oil – WTI can be expected to rise further toward the next round resistance level 70.00 (top of the previous minor correction (b) from the start of August).