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WTI crude oil falls below key support, signaling potential deeper pullback toward $71.32.

Market News
04 Aug 2026
FXEmpire
View Source
Bearish
WTI crude oil falls below key support, signaling potential deeper pullback toward $71.32.

WTI crude oil prices dropped below the 200-day moving average and key Fibonacci retracement levels, suggesting sellers are gaining control. The price broke below $77.02 and may target lower support levels near $73.43 and $71.32. Despite this short-term decline, crude oil remains within a larger symmetrical triangle pattern, indicating consolidation and potential bullish breakout before November. Investors should watch for volatility contraction and key resistance near $81.60 and $82.76.

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