WTI crude oil recently reversed down from the resistance zone lying between the pivotal resistance level 69.50 (which has been reversing the price from the start of August) and the 61.8% Fibonacci correction of the downward price impulse wave (c) from the end of July. The downward reversal from this resistance zone stopped the earlier minor impulse wave (i). Given the deteriorating risk sentiment seen across the commodities markets today, WTI crude oil can be expected to fall further toward the next support level 65.00.