WTI recently broke the resistance area lying between the resistance level 52.000 (former support from the end of January) and the 61.8% Fibonacci correction of the previous sharp downward impulse (v) from last month. The breakout of this resistance level accelerated the active short-term impulse wave (c). WTI is currently trading close to the resistance level 54.000 (which stopped the earlier short-term correction (iv)). If the price breaks above this resistance level – WTI can then rise toward the next resistance level 55.000 (monthly double bottom from November).