Crude Oil WTI Technical Analysis: Oil market pushes higher to new 2018 high at $74.03 a barrel
|- Crude oil bulls are grinding higher this Thursday as they reached a new 2018 high at 74.03.
- The main trend is bullish and a bull move continuation above the new 2018 high can open the gates towards 73.25 November 14, 2014 low.
- However, the current move is rather climactic as oil is overshooting above most trendlines.
Spot rate: 73.52
Relative change: 1.65%
High: 74.03
Low: 72.18
Trend: Bullish
Resistance 1: 74.03 current 2018 high
Resistance 2: 74.71 November 17, 2014 low
Resistance 3: 75.00 figure
Support 1: 73.25 November 14, 2014 low
Support 2: 73.06, 2018 high
Support 3: 72.83 June 27 swing high
Support 4: 72.00 figure
Support 5: 71.19 May 23 low
Support 6: 70.53 May 24 low
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