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  • Oil is trading near the bottom of the range of the last four days still unable to break below the 0.7300 figure as the EIA: Commercial crude oil inventories increased by 1.2 million barrels from  previous week.  
  • Bears need a convincing break below 73.00 to claim a reversal down.  

Crude oil WTI: 15-minute chart

Spot rate:                      73.39
Relative change:           -1.03%      
High:                             74.78
Low:                              72.86

Trend:                           Bullish

             
Resistance 1:               73.25 November 14, 2014 low
Resistance 2:               74.00 figure
Resistance 3:               74.71 November 17, 2014 low
Resistance 4:               75.27 current 2018 high      
Resistance 5:               75.45 November 24, 2014 low
Resistance 6:               76.00 figure

             
Support 1:                    73.00 figure
Support 2:                    72.83 June 27 swing high
Support 3:                    72.00 figure        
Support 4:                    71.19 May 23 low        
Support 5:                    70.53 May 24 low