US West Texas Intermediate (WTI) crude futures fell 24 cents, or 0.3%, to $69.75 a barrel at 0200 GMT, while Brent crude futures fell 13 cents, or 0.2%, to $72.90 a barrel
Broader investor risk aversion also weighed on oil with the US dollar jumping to a nine-month high on signs the US Federal Reserve is considering reducing stimulus this year
On the daily chart, oil failed to break a support at $66.44 again. Trending signals are rather mixed, as the tug of war between bulls and bears around $66.44 has not ended
8 The contract could be riding on a wave (d), the fourth wave of a presumed wedge developing from the July 6 high of $76.98. Three smaller waves make up this wave
Three smaller waves make up this wave. The current wave c has briefly travelled above its 76.4% projection level of $71.85. Chances are it may extend to $72.71
