WTI under bullish pressure today – following the earlier breakout of the resistance level 54.00 (which was set as the likely upward target in our earlier forecast for this instrument). The breakout of the resistance level 54.00 continues the earlier upward correction from the strong support level 50.75 (which revered the price sharply in June and July, as can be seen below). WTI is expected rise further in the active short-term ABC correction 2 toward the next resistance level 56.00 (standing midway between the 50% and 38.2% Fibonacci correction levels of the previous downward impulse wave 1).