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  • 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:

WTI

Overview:
       Last Price:  63.41
       Daily change:  46  pips
       Daily change:  0.731%
       Daily Open:  62.95
Trends:
       Daily SMA20:  67.84
       Daily SMA50:  70.12
       Daily SMA100:  69.22
       Daily SMA200:  68.53
Levels:
       Daily High:  63.05
       Daily Low:  62.86
       Weekly High:  67.73
       Weekly Low:  62.61
       Monthly High:  76.25
       Monthly Low:  64.86
       Daily Fibonacci 38.2%:  62.98
       Daily Fibonacci 61.8%:  62.93
       Daily Pivot Point S1:  62.86
       Daily Pivot Point S2:  62.76
       Daily Pivot Point S3:  62.67
       Daily Pivot Point R1:  63.05
       Daily Pivot Point R2:  63.14
       Daily Pivot Point R3:  63.24