WTI crude oil Wave Analysis – 20 May 2026

WTI crude oil: ⬇️ Sell

– WTI crude oil reversed from resistance zone

– Likely to fall to support level 95.00

WTI crude oil recently reversed from the resistance zone between the pivotal resistance level 105.00 (which has been reversing the price from the start of April) and the upper daily Bollinger Band.

The downward reversal from this resistance zone stopped the earlier impulse waves iii and (3).

Given the strength of the resistance level 105.00, WTI crude oil can be expected to fall to the next support level 95.00 (low of the previous correction ii).