Crude Oil WTI Technical Analysis: Triangle compression pattern can send WTI to $66.87 a barrel

• Crude oil main bull trend is having a consolidation period.
• Crude oil is consolidating last week decline and is currently forming a triangle compression pattern (green lines).  
• The RSI is at 47 and the MACD is turning south as  both indicators are pointing to further losses. On a bear breakout, the initial target would be located near 66.87 (September 7 low).

Crude oil WTI 240-minute chart

Spot rate:                  68.81
Relative change:       0.00%      
High:                         69.69
Low:                          68.51

Main Trend:               Bullish  
Short-term trend:        Bearish

Resistance 1:           69.00 figure.
Resistance 2:           69.30 August 24 high  
Resistance 3:           69.44 June 25 high
Resistance 4:           70.00 figure
Resistance 5:           70.53 May 24 low
Resistance 6:           71.41 September 4 high  

Support 1:                68.00-68.30 zone, figure and supply/demand level
Support 2:                67.84 August 14 swing high
Support 3:                67.16 June 14 high
Support 4:                67.72 June 26 low  
Support 5:                66.87 September 7 low