The price is in a correction and a fall is possible.

On the daily chart, the correctional second wave of the highest level (2) ended, and the third wave (3) started. Now, the first entry wave of the lowest level i of 1 of (3) has formed, and the correctional second wave ii of 1 of (3) and the wave (c) of ii are developing. If the assumption is correct, the price of the asset will fall to the area of 60.00–55.45. In this scenario, the critical stop loss level is 67.50.

The WTI Crude Oil quotes are trading around 65.62 (Murrey level [5/8]) under the influence of several opposing factors that are holding back investor activity, the key one being trade. 

WTI Crude Oil prices have risen above the key level of 66.00 again this week, continuing a volatile uptrend in Asia that remains vulnerable to fundamentals that are driving above-average volatility.