Crude Oil WTI Technical Analysis: Black Gold remains under pressure below $69.00 post-EIA data

• Crude oil is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.  
• As reported by the EIA weekly report, commercial crude oil inventories increased by 6.3 million barrels from previous week, which is seen as bearish for oil.  
• Crude oil bears have been mercilessly pushing the barrel of oil as down as $66.00. The RSI, MACD and Stochastic indicators are in negative territories suggesting more weakness ahead.
• The next targets to the downside are seen near 65.69 August 13 low and 64.40 August low.  

Crude oil WTI 4-hour chart

Rate:                        66.81
Relative change:       0.85%      
High:                        67.32
Low:                         66.02

Main Trend:              Bearish

Resistance 1:           67.92 September 14 low
Resistance 2:           69.00 figure
Resistance 3:           70.00 figure
Resistance 4:           70.53 May 24 low
Resistance 5:           71.45 September 26 low

Support 1:                66.84 September low
Support 2:                65.69 August 13 low
Support 3:                64.40 August low