WTI crude oil recently reversed up from the support area lying between the key round support level 70.00 (former resistance level from the start of September), 20-day moving average and the 50% Fibonacci correction of the upward price impulse from the start of this month. The upward reversal from this support area started the active short-term impulse wave (iii) – which belongs to wave 3 from August. Given the improved risk sentiment as seen across global crude oil markets – WTI crude oil can be expected to rise further toward the next resistance level 73.00 (top of the previous impulse wave (i)).