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WTI recently reversed up from the support area lying between the round support level 20.00 (which was mentioned in our earlier report for this instrument) and the lower daily Bollinger Band. The upward reversal from this support area stopped the earlier impulse wave 3. Given the strength of the aforementioned support area, WTI is likely to rise further toward the next resistance level 25.00 (top of the previous short-term correction 2). Strong support remains at the support level 20.00.
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