WTI crude oil recently broke above the key resistance level 112.800 (which stopped the earlier minor impulse wave (1) in the middle of this month). The breakout of this resistance level accelerated eth active impulse waves iii and (iii) – which belong to wave C from the middle of March. Given the strongly bullish oil sentiment seen today and the prevailing uptrend, WTI crude oil can be expected to rise further toward the next resistance level 116.000 (top of the previous impulse wave (i) from the end of March).