Crude Oil WTI Technical Analysis: Equilibrium at 70.00 figure

• Crude oil is testing the 70.00 figure which has been a strong resistance in the last months of trading. 
• While bulls are trying to revive the main bull trend they will need to overcome the 70.00 figure resistance. There is not a clear top yet, however, repeated failures above 70.00 can lead to a rotation down towards 68.00-68.30 zone (figure and supply/demand level). 
• Investors are going to closely monitor how the market behaves near 70.00 in order to decide what is the next directional move on the black gold.

Crude oil WTI 480-minute chart

Spot rate:              60.00
Relative change:   0.23%     
High:                     70.19
Low:                      69.50

Main Trend:              Bullish 
Short-term trend:      Bearish below 70.00  

Resistance 1:       70.00 figure
Resistance 2:       70.53 May 24 low 
Resistance 3:       71.19 May 23 low  
Resistance 4:       72.13 July 6 low

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