Crude Oil WTI Technical Analysis: Crude oil hits 70.00 figure

• Crude oil reached the 70.00 figure. 
• The market is debating whether to continue the uptrend or create a deeper pullback below the round number. 
• A sustained bull breakout above 70.00 can lead to a retest of the 2018 high at 73.74, while a bearish breakout can lead to 68.00 figure. More information is needed to establish a clear short-term bias.

Crude oil 480-minute chart

Spot rate:              70.03
Relative change:   0.57%     
High:                     70.47
Low:                      69.53

Main Trend:          Bullish  

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:       68.30 supply/demand level