Crude Oil WTI Technical Analysis: WTI at $68.00 a barrel - On the verge of a breakout

• Crude oil reached almost a daily high of $69.00 on the CL 09-18 Futures contract as bulls reached the upper range of the bear channel. 
• Bulls will try to breakout above the channel pushing through 68.30 and 69.00 while bears will try to drive the market down below 67.72 and 67.16. 
• Bulls have been quite active in the last two days but they need a clear breakout above 68.30-69.00 in order to officially call the resumption of the bull trend. Failure to breakout above 69.00 would be seen as a sign of bullish weakness and would likely be met with strong selling. 

Crude oil WTI 15-minute chart

Spot rate:             67.98
Relative change:  0.80%     
High:                    68.80
Low:                     66.62

Trend:                  Bullish

Resistance 1:      68.30 supply/demand level
Resistance 2:      69.00 figure 
Resistance 3:      69.44 June 25 high
Resistance 4:      70.00 figure   
Resistance 5:      70.53 May 24 low 
Resistance 6:      71.19 May 23 low  
Resistance 7:      72.13 July 6 low
Resistance 8:      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