Back
29 May 2018
Crude oil WTI Technical Analysis: Trading in the 66.00-67.30 range after 10% sell-off
- Crude oil is consolidating after the strong 10% sell-off of the last sessions.
- Market participants are trying to decide what the next directional move will be as WTI is trading between the 66.00 and 67.30 level.
- Risk is slightly skewed to the downside as the bear momentum is strong.
WTI crue oil 15-minute chart
Spot rate: 66.75
Relative change: 0.09%
High: 67.32
Low: 65.89
Trend: Bearish
Support 1: 66.00 handle
Support 2: 65.56 April 17 low
Support 3: 64.12 April 5 high
Resistance 1: 67.30 major support/resistance
Resistance 2: 68.30 major support/resistance
Resistance 3: 69.00 handle