WTI recently reversed up from the key support level 52.80, which is the upper boundary of the strong support area which has been repeatedly reversing the price from the start of this year (as can be seen form the daily WTI chart below). The upward reversal from this support area started the active short-term impulse wave (iii). Given the strength of the aforementioned support area WTI is expected to rise further in the active impulse waves (i) and 3 toward the next resistance level 54.95 (high of the previous impulse wave (i)).