WTI has been under bullish pressure lately. The price is currently trading close to resistance level 27.40 (which stopped the A-wave of the active ABC correction (4) earlier this month) – intersecting with the 50% Fibonacci correction of the previous sharp downward impulse from March. If WTI breaks above the resistance level 27.40 – the price can then rise toward the next resistance 32.15 (top of the previous correction 4 from the start of April). In the alternative scenario – the price can fall to the earlier support at 28.30.
