Crude oil WTI dropping hard near $66.00 a barrel

• Oil is falling below 66.00 on Friday as bulls have given up to breakout above the 67.00 level.
• The momentum has now shifted to bearish as the bears broke below the wedge formation however the bears will need to convincingly break below the 100-period simple moving average on the daily chart at 65.94.  
• The next target is likely seen at the 65.52 June 13 low.

Crude oil WTI 15-minute chart

Spot rate:                      66.94
Relative change:           -1.45%      
High:                             67.06
Low:                              65.80

Trend:                           Bearish below 67.00

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

Support 1:                    65.94-66.00 daily 100-period SMA, key support
Support 2:                    65.52 June 13 low
Support 3:                           65.00 figure