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  • Crude oil WTI main bull trend is consolidating in a triangle pattern.
  • Crude oil WTI is trading above its flat 50, 100 and 200-period simple moving average while the RSI, MACD and Stochastics are slowly ticking up. Targets to the upside can be located near 71.41 (September 4 high) and 73.00 figure and supply level.
  • A break below $68.00 a barrel  would likely invalidate the bullish bias.

Crude oil WTI 4-hour chart

Spot rate:                  69.81
Relative change:       1.75%      
High:                         70.39
Low:                          68.51

Main Trend:               Bullish  

Resistance 1:           70.00 figure
Resistance 2:           70.53 May 24 low
Resistance 3:           71.41 September 4 high  
Resistance 4:           73.00 figure and supply level

Support 1:                69.44 June 25 high
Support 2:                69.30 August 24 high  
Support 3:                69.00 figure.
Support 4:                68.00-68.30 zone, figure and supply/demand level
Support 5:                67.84 August 14 swing high
Support 6:                67.16 June 14 high
Support 7:                67.72 June 26 low  
Support 8:                66.87 September 7 low

Expert score

5

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