Yesterday, WTI Crude Oil prices rose by 5.3% to the resistance level of 67.70 after the United States declared a high level of nuclear attack on Iran, Bahrain, and Iraq.

During the morning session, WTI Crude Oil prices are consolidating near the highs of April 4 at 64.75. The quotes are strengthening amid cautious optimism among investors regarding US-Chinese trade talks. Thus, yesterday, US President Donald Trump said he was receiving positive signals from advisers familiar with the consultations in London: they are expected to continue today, after which statements from both sides will follow.

The price of WTI Crude Oil is correcting, rising above 62.38 due to technical factors.

The price is in a correction, a fall is possible.

On the weekly chart, the downward correctional second wave of the highest level (2) and the wave C of (2) develop. On the daily chart, the third wave of the lowest level iii of C has ended, and the correctional fourth wave iv of C and the wave (b) of iv are forming. If the assumption is correct, after the correctional wave iv of C the price of the asset will fall to the area of 51.75–45.50. In this scenario, the critical stop loss level is 72.30.