WTI Crude Oil Reverses Trend, Targets $75.00 Support Level

WTI Crude Oil recently reversed its trend from a key resistance area between $90.00 and the upper daily Bollinger Band, as well as the 61.8% Fibonacci correction of the downward impulse from May.

This reversal has halted the previous minor impulse wave 1 that started in July, leading analysts to expect further declines for WTI Crude Oil.

The next support level is expected to be $75.00, which was a former resistance level at the start of July.