WTI Wave Analysis 26 December 2024

- WTI broke daily Triangle
- Likely to rise to resistance level 70.90

WTI crude oil today broke the resistance trendline of the daily Triangle from the end of October, inside which the price has been moving from October.

The breakout of this Triangle continues the active short-term impulse wave (iii) of the higher order impulse wave 3 from the middle of November.

WTI crude oil can be expected to rise to the next resistance level 70.90, the breakout of which can lead to further gains toward 71.40.