WTI crude oil Technical Analysis: Black Gold boosted above $65.00 by Saudi Arabia

Crude oil WTI rebounded from the $64.00 a barrel area and bulls are now challenging the 65.00 figure.
Earlier in the day oil bears tried to drive the market to the weekly lows but failed in their attempt. Oil bulls’ objective is to retest the weekly high near 66.35.
Oil is boosted as Saudi Arabia wants OPEC to boost oil supply

Flavio Tosti Independent Analyst

WTI crude oil 15-minute chart

Spot rate: 65.67
Relative change: 0.41%
High: 65.86
Low: 64.32

Trend: Bullish

Resistance 1: 66.00 figure
Resistance 2: 66.56 May 31 low
Resistance 3: 67.00 figure

Support 1: 65.00 figure
Support 2: 64.26 Tuesday’s low
Support 3: 63.40 current weekly low

Author

Flavio Tosti

Independent Analyst

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