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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

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