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WTIUSD recently reversed up with the daily Japanese candlesticks reversal pattern Bullish Engulfing from the support level 62.00, intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from March. The upward reversal from the support level 62.00 started the active impulse wave 3 (iii). Given the predominant uptrend – WTIUSD can be expected to rise further toward the next resistance level 66.60 (which stopped the previous waves (), b and (b)).
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