October 02, 2020 at 03:32PM
• WTI approached strong support level 36.30
• Likely to fall to 34.50
WTI continues to fall inside the minor downward impulse wave (i), which belongs to the longer-term downward impulse sequence (C) from the end of August.
The price is currently trading near the strong support level 36.30 (which stopped the previous minor impulse wave (i) at the start of September).
If WTI breaks below the support level 36.30 – the price can then fall to the next support level 34.50 (low of wave B from June).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/wti-wave-analysis-2-october-2020-20201002/
Selected by fonecable.com
- Gold Price Forecast: XAU/USD Bid on Weak Dollar, Softer Yields
- NEWS: Moody’s expect EU funds will boost growth, cut debt in Southern Europe May 18, 2021 at 11:34PM
- NEWS: US House passes a bill to codify insider trading ban May 18, 2021 at 11:29PM
- NEWS: Goldman Sachs still targeting EUR/USD at 1.25 May 18, 2021 at 11:10PM
- NEWS: US Senators see progress on the Republican infrastructure proposal, still some way to go though May 18, 2021 at 10:47PM