WTI crude oil breaks through 53.92 resistance to resume near term up trend today. Further rise should be seen to 61.8% projection of 47.24 to 53.92 from 51.58 at 55.70 first, and then 100% projection at 58.26.
In any case, near term outlook will now stay bullish as long as 51.58 support holds. As for the chance of taking on 65.43 medium term structural resistance, we’ll see if WTI could accelerate upwards with the current move.
