WTI crude oil Wave Analysis 6 December 2024

– WTI crude oil broke support zone

– Likely to fall to support levels 66.6 and 66.00

WTI crude oil today broke the support zone lying at the intersection of the support level 67.60 and the support trendline of the daily Triangle from September.

The breakout of this support zone should add to the bearish pressure on WTI crude oil in the coming trading sessions.

Given the strong multi-month downtrend, WTI crude oil can be expected to fall toward the next support levels 66.6 and 66.00.