• WTI broke support zone
• Likely to fall further
WTI recently broke below the support zone lying between the round support level 70.00 and 50% Fibonacci correction of the previous sharp upward impulse 3 from June.
The breakout of this support zone accelerated the active short-term impulse wave C which belongs to the ABC correction 4 from last month.
WTI is likely to fall further and re-test the next support level 66.80 (former resistance level from the middle of June).