Crude Oil WTI Technical Analysis: 67.70 target mission accomplished – $70.00 a barrel is next

• Crude oil is resuming its bulls trend as black gold gained about $4 in the last 5 days.  
• Crude oil reached target 2 in the 67.16-67.72 area and nothing indicated that the bull momentum should abate. The 100 and 200-period simple moving averages are sloping upward and the market broke strongly above the bear trendline (blue).
• The next target is $70.00 a barrel. A bear breakout below 67.16 would invalidate the bullish bias.    

Crude oil WTI 15-minute chart

Spot rate:              68.09
Relative change:   3.12%      
High:                     68.11
Low:                      65.95

Main Trend:          Bullish  

Resistance 1:       68.30 supply/demand level
Resistance 2:       69.00 figure
Resistance 3:       69.44 June 25 high
Resistance 4:       70.00 figure

Support 1:            67.84 August 14 swing high
Support 2:            67.16-67.72 June 14 high-June 26 low  
Support 3:            66.30-66.53 area, July 18 swing low and June 20 high
Support 4:            65.71, June 22 low
Support 5:            64.60 May 28 low
Support 6:            64.00 figure
Support 7:            63.63 June 11 low
Support 8:            62.40 June 18 low