Crude Oil WTI Technical Analysis: Bears did it again - Oil down almost 4%

• Crude oil extended the bear trend by almost 4% this Monday as the pullback up above 71.00 last Friday was fairly weak and was possibly indicative of lower prices.
• Crude oil is now consolidating the strong move lower at around $68.00 a barrel. The pullback up might extend to 69.00-69.44 area. However, since the bear trend is so steep pullbacks might be very shallow.  
• Targets to the downside can be located near 66.53, June 20 high and 65.71, June 22 low.

 
Crude oil WTI 15-minute chart 

Spot rate:             68.00
Relative change:  3.86%     
High:                    70.84
Low:                     67.56

Trend:                  Bearish

Resistance 1:      68.30 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