WTI recently reversed down key resistance area lying at the intersection of the resistance level 58.60 (which also reversed the price earlier this month) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the earlier impulse wave (iii). Given the proximity of the aforementioned resistance area – WTI is likely to remain under the bearish pressure and to fall toward the next support level 57.00 (low of the previous daily Hammer from the start of this week).