Last time we looked WFT in April, we saw that it broke below a rising channel support, which opened up the 2016 low. Indeed, price continued to decline until the 2016, where it has stalled since June.WFT Daily Chart (click to enlarge)At 2016-Low:- As we can see on the daily chart, price is now hammering and cracking the 2016 low without any real signs of a bullish rebound.- If price does jump back up above 4.15, we might want to anticipate a period of consolidation. - Otherwise, all signs point to a new low on the year, being that the prevailing trend has been bearish as we can see on the weekly chart below.WFT Weekly Chart (click to enlarge)