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  • Crude oil is trading in a bear trend below the 200-period simple moving average (SMA) on the 4-hour chart.  
  • Crude oil fell to its lowest in 10 weeks as the market broke below the bear flag. Oil is extending the downtrend below the 50, 100  and 200 SMA. The RSI, MACD and Stochastic indicators are in negative territories suggesting further weakness ahead.  
  • Targets to the downside might be located near 65.00 figure and 64.40 August low.  

Crude oil WTI   4-hour chart

Main Trend:              Bearish

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

Support 1:                65.69 August 13 low
Support 2:                65.00 figure
Support 3:                64.40 August low

 

Additional key levels at a glance:

WTI

Overview:
       Last Price:  65.69
       Daily change:  -98  pips
       Daily change:  -1.47%
       Daily Open:  66.67
Trends:
       Daily SMA20:  70.12
       Daily SMA50:  70.61
       Daily SMA100:  69.7
       Daily SMA200:  68.46
Levels:
       Daily High:  66.7
       Daily Low:  66.58
       Weekly High:  69.65
       Weekly Low:  66.08
       Monthly High:  73.7
       Monthly Low:  66.84
       Daily Fibonacci 38.2%:  66.65
       Daily Fibonacci 61.8%:  66.63
       Daily Pivot Point S1:  66.6
       Daily Pivot Point S2:  66.53
       Daily Pivot Point S3:  66.48
       Daily Pivot Point R1:  66.72
       Daily Pivot Point R2:  66.77
       Daily Pivot Point R3:  66.84