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  • Crude oil is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.  
  • Crude oil is consolidating the recent October fall in a bear flag just below the 50-period simple moving average. The RSI indicator is below the 50 line while the MACD is crossing over and the Stochastic is about to drop below the 50 line.  
  • The path of least resistance is to the downside with bear targets at 65.69 August 13 low and 64.40 August low.  

Crude oil WTI 4-hour chart  

Main Trend:              Bearish

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

Support 1:                66.84 September low
Support 2:                65.69 August 13 low
Support 3:                64.40 August low

 

WTI

Overview:
       Last Price:  66.67
       Daily change:  -99  pips
       Daily change:  -1.46%
       Daily Open:  67.66
Trends:
       Daily SMA20:  70.5
       Daily SMA50:  70.68
       Daily SMA100:  69.78
       Daily SMA200:  68.43
Levels:
       Daily High:  67.73
       Daily Low:  67.45
       Weekly High:  69.65
       Weekly Low:  66.08
       Monthly High:  73.7
       Monthly Low:  66.84
       Daily Fibonacci 38.2%:  67.62
       Daily Fibonacci 61.8%:  67.56
       Daily Pivot Point S1:  67.5
       Daily Pivot Point S2:  67.33
       Daily Pivot Point S3:  67.22
       Daily Pivot Point R1:  67.78
       Daily Pivot Point R2:  67.89
       Daily Pivot Point R3:  68.06