Crude Oil Technical Analysis

The $66.67 and $69.57 levels are seen as key today. Bears need a close below $66.67 to reconfirm immediate focus on the $62.70 support and overall focus on the $56.74-59.30 region. Bulls continue to look for a close above $69.57 to confirm an easing of bearish pressure and shift initial focus back to layers of resistance in the $73.30-78.08 region. Key concerns for bears come from O/S daily studies and the Bollinger band base
RES 4: $73.83 – 21-DMA
RES 3: $73.30 – Low Nov 26 now resistance
RES 2: $71.89 – Hourly support Nov 27 now resistance
RES 1: $69.57 – Hourly resistance Nov 28
LPRICE: $67.75
SUP 1: $66.67 – Low Dec 2
SUP 2: $63.72 – 2014 Low Dec 1
SUP 3: $62.70 – Weekly Low July 2009
SUP 4: $59.30 – Monthly Low July 2009