WTI recently reversed down from the resistance area lying between the key resistance level 58.00 (which stopped the previous upward impulse wave (i)), upper daily Bollinger Band and the 50% Fibonacci retracement of the previous sharp downward ABC correction 2 from the middle of September. WTI is likely to remain under bearish pressure and to extend the losses toward the next support level 56.00 (low of the previous corrective wave (ii) from the start of November).