- The bears drove oil to the lower trendline from which bulls rebounded from. The market is currently testing the 67.00 level.
- The market is evolving in a bullish channel with a wedge shape.. The next resistance to overcome will be the 67.00 level and the 100-period simple moving average on the 4-hour chart.
- A failure to break above 67.00 could lead to a rotation down as bulls are slowly losing momentum.
Crude oil WTI 15-minute chart
Spot rate: 66.94
Relative change: 0.45%
Resistance 1: 67.00 figure
Resistance 3: 67.30 supply level
Resistance 4: 68.30 May 31 high
Support 1: 66.56 May 31 low
Support 1: 66.00 key support
Support 2: 65.52 June 13 low
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.