- Crude oil failed to find support at $67.72 a barrel however the market had to drop a little below 67.00 to find very strong buying interest.
- As it was anticipated, the bulls didn’t throw the towel that easily and this Thursday they managed to print a daily range of $2.3 as bulls are now fighting for the 69.00 level.
- The current bullish moment is strong and while pullbacks sub-69.00 are possible, the market is likely going to build on the current buy wave targeting 69.44 and 70.00 figure.
Spot rate: 69.13
Relative change: 1.90%
High: 69.36
Low: 66.89
Trend: Bullish
Resistance 1: 69.44 June 25 high
Resistance 2: 70.00 figure
Resistance 3: 70.53 May 24 low
Resistance 4: 71.19 May 23 low
Resistance 5: 72.13 July 6 low
Resistance 6: 73.00 figure
Support 1: 69.00 figure
Support 2: 68.30 supply/demand level
Support 3: 67.72 June 26 low
Support 4: 67.16 June 14 high
Support 5: 66.53 June 20 high
Support 6: 65.71, June 22 low
Support 7: 65.00 figure
Share
