Crude Oil WTI: Black Gold pushes back above $73.00 a barrel

Crude oil found support just above the 72.00 figure and rose about $1.50 from the daily lows.
Crude oil is back into the range of the last five days.
Oil bulls will try to create a second bull leg up and reclaim the 74.00 level while bears will try to make the breakout to fail and push the market back below 73.00.

Flavio Tosti Independent Analyst

Crude oil WTI 15-minute chart

Spot rate: 73.42
Relative change: 0.44%
High: 73.64
Low: 72.11

Trend: Bearish

Resistance 1: 74.00 figure
Resistance 2: 74.71 November 17, 2014 low
Resistance 3: 75.27 current 2018 high
Resistance 4: 75.45 November 24, 2014 low
Resistance 5: 76.00 figure

Support 1: 73.25 November 14, 2014 low
Support 2: 73.00 figure
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

Author

Flavio Tosti

Independent Analyst

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