- Crude oil found resistance just below $70.00 a barrel and the market dropped about $1 to the current price near 68.90.
- Bulls need to keep the market supported above 67.72 if they want to keep the momentum going. Ideally, they should clear 70.00 and 70.53 in order to create higher highs otherwise the market is going to transition in trading range mode with 67.72 and 67.00 as main supports.
Spot rate: 68.85
Relative change: 0.47%
High: 69.89
Low: 68.47
Trend: Bullish
Resistance 1: 69.00 figure
Resistance 2: 69.44 June 25 high
Resistance 3: 70.00 figure
Resistance 4: 70.53 May 24 low
Resistance 5: 71.19 May 23 low
Resistance 6: 72.13 July 6 low
Resistance 7: 73.00 figure
Support 1: 68.30 supply/demand level
Support 2: 67.72 June 26 low
Support 3: 67.16 June 14 high
Support 4: 66.53 June 20 high
Support 5: 65.71, June 22 low
Support 6: 65.00 figure
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