- Crude oil advance is currently capped at $74.00 a barrel.
- Crude oil is in correction mode after the $10 bull move seen in June.
- Bears are betting that the bear channel will hold while bulls are betting that the bear channel will break to the upside.
Spot rate: 73.78
Relative change: 0.93%
High: 73.91
Low: 72.11
Trend: Bearish
Resistance 1: 74.00 figure
Resistance 2: 74.71 November 17, 2014 low
Resistance 3: 75.27 current 2018 high
Resistance 4: 75.45 November 24, 2014 low
Resistance 5: 76.00 figure
Support 1: 73.25 November 14, 2014 low
Support 2: 73.00 figure
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