WTI oil recently reversed down from the resistance zone lying between the powerful resistance level 66.60 (which has been steadily reversing the pair from the start of March – as can be seen from the daily WTI oil chart below) and the upper daily Bollinger Band. Given the strength of the resistance level 66.60 – WTI oil can be expected to fall further toward the next support level 63.15 (former resistance from April and the low of the previous waves (iv) and (ii)).
WTI oil reversed from powerful resistance level 66.60; Likely to fall to support level 63.00.
