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  • Crude oil is trading in a bear trend below the 200-period simple moving average on the 4-hour chart as the market is reaching levels not seen since mid-August.
  • Crude oil broke down from the bull flag and is continuing its downtrend, landing on the 65.00 level. The RSI, MACD and Stochastic indicators are all negative suggesting continued bearish pressure ahead.
  • Targets to the downside can be located near 64.40 (August low) and 64.00 figure.

Crude oil WTI 4-hour chart

Main Trend:              Bearish

Resistance 1:           65.69 August 13 low
Resistance 2:           66.84 September low
Resistance 3:           67.92 September 14 low
Resistance 4:           69.00 figure
Resistance 4:           70.00 figure
Resistance 5:           70.53 May 24 low
Resistance 6:           71.45 September 26 low

Support 1:                65.00 figure
Support 2:                64.40 August low
Support 3:                64.00 figure

 

Additional key levels at a glance:

WTI

Overview:
       Last Price:  65.03
       Daily change:  -1.4e+2  pips
       Daily change:  -2.15%
       Daily Open:  66.46
Trends:
       Daily SMA20:  69.75
       Daily SMA50:  70.55
       Daily SMA100:  69.64
       Daily SMA200:  68.48
Levels:
       Daily High:  66.52
       Daily Low:  66.25
       Weekly High:  69.65
       Weekly Low:  66.08
       Monthly High:  73.7
       Monthly Low:  66.84
       Daily Fibonacci 38.2%:  66.42
       Daily Fibonacci 61.8%:  66.35
       Daily Pivot Point S1:  66.3
       Daily Pivot Point S2:  66.14
       Daily Pivot Point S3:  66.03
       Daily Pivot Point R1:  66.57
       Daily Pivot Point R2:  66.68
       Daily Pivot Point R3:  66.84