• WTI crude oil reversed from resistance area
• Likely to fall to support level 68,00

WTI crude oil continues to fall after the earlier sharp downward reversal from the resistance area lying between the resistance level 74,00 (which also reversed the pair at the start of July) , 61.8% Fibonacci correction of wave 2 and the upper daily Bollinger Band. The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Evening Star Doji. WTI can be expected to fall further toward the next support level 68,00.

Given the strength of the aforementioned resistance area, WTI crude oil can be expected to fall further toward the next support level 68,00 – followed by the major support at 65.2 (low of the previous correction 2)