Crude Oil WTI Technical Analysis: Bullish correction underway - Oil at $68.00 a barrel

• Crude oil is consolidating the strong bear sell-off seen on Monday. The market found support near 67.16, June 14 high and bulls tried to push oil above 68.30, supply/demand level.
• As bulls are about to close the day near its high the consolidation phase seems not to be over just yet and another attempt above 68.30 can send oil to a test of the 69.00 figure or 69.44 near July 12 low.
• On the flip side, failure to contain prices above 67.16 can open the gates to 66.53 and 65.71 support levels.
   

Crude oil WTI 15-minute chart 

Spot rate:             68.00
Relative change:  0.12%     
High:                    68.41
Low:                     67.03

Trend:                  Bearish / bullish correction

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 

Support 1:           67.72 June 26 low
Support 2:           67.16 June 14 high
Support 3:           66.53 June 20 high
Support 4:           65.71, June 22 low