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 15-minute chart

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

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.