Crude oil declined, where we see the price trading below 69.15 level; which we can consider it a key resistance level for today that could cause more declines if the price can't remain above it. The stochastic is moving within oversold areas, as there are no current signs of adjustment to the upside whereas the RSI is trending to the downside making us expect a downside direction for today, targeting key support for the short term bullish channel at 67.10.
The trading range for today is among the key support at 63.40 and the key resistance at 73.55.
The general trend is to the upside as far as 47.20 remains intact with targets at 76.25.
Support: 68.35, 67.70, 67.10, 66.30, 64.10
Resistance: 69.15, 70.40, 71.50, 72.25, 72.75
Recommendation Based on the charts and explanations above our opinion is selling oil from 69.10 To 67.10 and stop loss above 71.50, might be appropriate
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