- Crude oil bulls want to keep extending the main trend but they need to surpass 73.00 a barrel.
- Oil might be encountering resistance as the market is trading at levels not seen since July 2018.
- Failure to break above 73.00 can lead to a rotation down towards $70.00 a barrel.
Spot rate: 72.00
Relative change: -0.30%
High: 72.73
Low: 71.93
Main Trend: Bullish
Resistance 1: 72.00 figure
Resistance 3: 73.00 figure
Resistance 4: 75.00 figure
Support 1: 71.41-63 zone, Sept.4 high-July 13 high
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.