Crude Oil WTI Technical Analysis: No respite for Black Gold as WTI rejects $64.00 a barrel

• Crude oil is trading in a strong bear trend below the 50, 100 and 200-period simple moving average.  
• Crude oil consolidated some of the recent losses and is currently rejecting $64.00 a barrel.
• The bias remains bearish with the RSI and Stochastic indicator below the 50 line, however MACD crossover from below. All suggesting that the main bias remains firmly bearish with targets to the downside seen near 61.81 April 6 low and 59.95 March 8. A break above 64.00 might halt the current bearish pressure.

Crude oil WTI 4-hour chart

Main Trend:              Bearish

Resistance 1:           63.59 June 18 low
Resistance 2:           64.00 figure
Resistance 3:           64.40 August low
Resistance 4:           65.00 figure
Resistance 5:           65.69 August 13 low
Resistance 6:           66.84 September low

Support 1:             63.00 figure
Support 2:             61.81 April 6 low
Support 3:             59.95 March 8  

Additional key levels at a glance: