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  • Crude oil tried to breakout above 68.30 resistance but then collapsed into the 66.30-67.16 area (yellow rectangle).  
  • Crude oil is having sharp swings in both directions as market participants are trying to find a direction.  
  • As its stands, bears now have a slight advantage if they are able to have a daily close below the 66.30, July 18 swing low.  

Crude oil WTI 15-minute chart

Crude oil WTI 480-minute chart

Spot rate:              66.63
Relative change:  -1.17%      
High:                     68.37
Low:                      66.58

Main Trend:          Bullish  

Resistance 1:       67.16 June 14 high
Resistance 2:       67.72 June 26 low
Resistance 3:       67.95 swing high
Resistance 4:       68.30 supply/demand level
Resistance 5:       69.00 figure
Resistance 6:       69.44 June 25 high
Resistance 7:       70.00 figure    
Resistance 8:       70.53 May 24 low  
Resistance 9:       71.19 May 23 low  
Resistance 10:       72.13 July 6 low
Resistance 11:     73.00 figure

Support 1:       66.30-66.53 July 18 swing low and June 20 high
Support 2:       65.71, June 22 low
Support 3:       65.00 figure
Support 4:       64.60 May 28 low
Support 5:       64.00 figure
Support 6:       63.63 June 11 low
Support 7:       62.40 June 18 low