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  • Crude oil bulls are keeping the bull trend going as they keep the market above 71.00.
  • Crude oil is trading above its 50, 100 and 200-period simple moving average suggesting a bullish bias.  
  • Bulls objective is to break above $73.00 a barrel in order to target 74.00 and 75.24 (July high). A break below 71.45 September 26 low would likely invalidate the bullish bias.  

Crude oil WTI 4-hour chart

Spot rate:                  72.22
Relative change:        0.12%      
High:                         72.56
Low:                          71.69

Main Trend:               Bullish  

Resistance 1:           72.00 figure
Resistance 3:           73.00 figure  
Resistance 4:           75.00 figure

Support 1:                71.45 September 26 low
Support 2:                70.53 May 24 low
Support 2:                70.53 May 24 low
Support 3:                70.00 figure
Support 4:                69.44 June 25 high
Support 5:                69.30 August 24 high  
Support 6:                69.00 figure