Crude Oil WTI Technical Analysis: Bulls retake control
|- Crude oil rebounded this Friday and found resistance at $67.72 a barrel.
- As bulls are gaining some traction their objective is to trade above 70.00 which is the last swing high.
- As the bear breakout below 66.30 found buyers, the bulls keep having the upper hand but they must be careful of bear reversals.
Crude oil WTI 480-minute chart
Spot rate: 66.69
Relative change: 1.60%
High: 67.88
Low: 66.13
Main Trend: Bullish
Resistance 1: 67.72 June 26 low
Resistance 2: 68.30 supply/demand level
Resistance 3: 69.00 figure
Resistance 4: 69.44 June 25 high
Resistance 5: 70.00 figure
Resistance 6: 70.53 May 24 low
Resistance 7: 71.19 May 23 low
Resistance 8: 72.13 July 6 low
Resistance 9: 73.00 figure
Support 1: 67.16 June 14 high
Support 2: 66.30-66.53 July 18 swing low and June 20 high
Support 3: 65.71, June 22 low
Support 4: 65.00 figure
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