WTI recently reversed down from the resistance area lying between the key resistance level 43.34 (former support from March, which reversed the price at the start of August), intersecting with the upper daily Bollinger Band. Given the overbought daily Stochastic and the strength of the aforementioned resistance level 43.34 WTI is likely to extend the losses toward the next support level 40.00 (which formed the monthly double bottom in July, as can be seen below).