Crude Oil WTI Technical Analysis: Black Gold under pressure below $67.00 a barrel

Crude oil bulls tried to stage a reversal but the attempt was shy without any real strength behind it as crude oil remains under pressure below $67.00 a barrel.
The bears breakout below 66.30 seems almost inevitable in the coming sessions. Targets to the downside are likely located near the 65.71, June 22 low and 65.00 figure.

Flavio Tosti Independent Analyst

Crude oil WTI 15-minute chart

Crude oil WTI 480-minute chart

Spot rate: 66.69
Relative change: -0.13%
High: 67.42
Low: 66.49

Main Trend: Bullish
Short-term Trend: Bearish reversal below 66.30

Resistance 1: 67.16 June 14 high
Resistance 2: 67.16 June 14 high
Resistance 3: 67.72 June 26 low
Resistance 4: 68.30 supply/demand level
Resistance 5: 69.00 figure
Resistance 6: 69.44 June 25 high
Resistance 7: 70.00 figure
Resistance 8: 70.53 May 24 low
Resistance 9: 71.19 May 23 low
Resistance 10: 72.13 July 6 low
Resistance 11: 73.00 figure

Support 1: 66.30-66.53 July 18 swing low and June 20 high
Support 2: 65.71, June 22 low
Support 3: 65.00 figure

Author

Flavio Tosti

Independent Analyst

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