Crude oil WTI Technical Analysis: Black gold fades $70.00 a barrel retracing last bull breakout

• WTI is consolidating the strong bull breakout seen last Friday. Oil is trading below the 68.30 level, May 31 high, as the market was unable to break above last week’s high. 
• The next major bear target to the downside is likely located near the 67.00 figure. 

Crude oil WTI 15-minute chart

Spot rate:                      68.14
Relative change:          -0.73%     
High:                             69.41
Low:                              67.95

Trend:                           Bearish below 70.00

Resistance 1:               68.30 May 31 high
Resistance 2:               69.00 figure
Resistance 3:               69.44 current Monday’s high 

Support 1:                    67.34 June 1, low
Support 2:                    67.00 figure
Support 3:                    66.56 May 31 low