- Crude oil reached the 70.00 figure.
- The market is debating whether to continue the uptrend or create a deeper pullback below the round number.
- A sustained bull breakout above 70.00 can lead to a retest of the 2018 high at 73.74, while a bearish breakout can lead to 68.00 figure. More information is needed to establish a clear short-term bias.
Spot rate: 70.03
Relative change: 0.57%
High: 70.47
Low: 69.53
Main Trend: Bullish
Resistance 1: 70.00 figure
Resistance 2: 70.53 May 24 low
Resistance 3: 71.19 May 23 low
Resistance 4: 72.13 July 6 low
Support 1: 69.44 June 25 high
Support 2: 69.30 August 24 high
Support 3: 69.00 figure
Support 4: 68.30 supply/demand level
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