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  • Crude oil had a boost to $67.93 a barrel and is now consolidating the daily gains.  
  • WTI is trading within the range of the last two weeks and bulls are currently capped by the 68.00 figure. A failure to break above the daily high at 67.93 could lead to a rotation down towards the 67.00 level.
  • The Organization of Petroleum Exporting Countries (OPEC) announced that it will increase production by 1 million barrels per day.  

Crude oil WTI 15-minute chart

Spot rate:                      67.62
Relative change:            2.74%      
High:                             67.93
Low:                              65.70

Trend:                           Bullish

Resistance 1:               67.93 current Friday’s high  
Resistance 2:               68.30 May 31 high
Resistance 3:               69.00 figure  

Support 1:                     67.34 June 1, low
Support 2:                     67.00 figure
Support 3:                     66.56 May 31 low