WTI recently reversed down from the resistance area lying between the key resistance level 35.000 and the 38.2% Fibonacci correction of the previous sharp impulse wave from the start of March. The downward reversal from this resistance area continues the active medium-term impulse sequence (3) from the start of January. Given the strength of the active impulse wave (3) and the daily Momentum recently reaching new multi-month losses – WTI is likely to fall further toward the next support level 27.500 (which stopped the previous sharp impulse wave 3).