Crude Oil WTI Technical Analysis: Oil consolidating Thursday’s gains below the 69.00 figure

• Crude oil was unable to continue the bull rally initiated on Thursday as the market is having a 61.8% Fibonacci retracement from the last bull leg (August 2).
• Next week bulls will try to push the market above $69.00 a barrel while bears will try to drive the market below the 67.72 support.
• The market might need to consolidate some more below 69.00, however, the current bullish momentum favors a breakout above 69.00 as long as the market holds 67.72.

Crude oil WTI 15-minute chart

Spot rate:             68.56
Relative change:  0.52%     
High:                    69.21
Low:                     67.90

Trend:                  Bullish

Resistance 1:      69.00 figure
Resistance 2:      69.44 June 25 high
Resistance 3:      70.00 figure   
Resistance 4:      70.53 May 24 low 
Resistance 5:      71.19 May 23 low  
Resistance 6:      72.13 July 6 low
Resistance 7:      73.00 figure

Support 1:      68.30 supply/demand level
Support 2:      67.72 June 26 low
Support 3:      67.16 June 14 high
Support 4:      66.53 June 20 high
Support 5:      65.71, June 22 low
Support 6:      65.00 figure