Crude Oil WTI Technical Analysis: Oil market push higher to new 2018 high at $74.03 a barrel

• Crude oil bulls are grinding higher this Thursday as they reached a new 2018 high at 74.03.  
• The main trend is bullish and a bull move continuation above the new 2018 high can open the gates towards 73.25 November 14, 2014 low.  
• However, the current move is rather climactic as oil is overshooting above most trendlines.

Crude oil WTI 15-minute chart

Spot rate:                      73.52
Relative change:            1.65%      
High:                             74.03
Low:                              72.18

Trend:                           Bullish

             
Resistance 1:               74.03 current 2018 high
Resistance 2:               74.71 November 17, 2014 low
Resistance 3:               75.00 figure      

Support 1:                     73.25 November 14, 2014 low
Support 2:                     73.06, 2018 high
Support 3:                     72.83 June 27 swing high
Support 4:                     72.00 figure        
Support 5:                     71.19 May 23 low        
Support 6:                     70.53 May 24 low