WTI Crude Oil Possible Correction?

From a technical perspective, crude oil broke the rising wedge formation (weekly chart) and retested it, plus it looks like it finished 5 waves up. Thus I think it is time to see a correction towards $70.00 as our first target. Breaking this level may lead to an extended correction towards retesting the previous wave 4 at $57.23.

But what will be the fundamental news behind this drop? OPEC deciding to increase supply? or sudden rate hikes?