Crude Oil WTI Technical Analysis: Black Gold blasting higher to $70.00 a barrel

• Crude oil WTI gained about $2 from the daily low and is now trading around $70.00 a barrel. As discussed in the previous oil update a breakout above $70.00 would give extra confirmation that bulls are indeed in full control of the market.
• Resistances to the upside are likely located near 70.53 May 24 low, 71.19 May 23 low and 72.13 July 6 low. Supports are seen near 69.44 June 25 high and the 69.00 figure.
• The bull breakout coincides with a statement from Saudis. Saudis say oil exports to drop by 100K barrels per day in August.

Crude oil WTI 15-minute chart

Spot rate:             68.89
Relative change:  1.53%     
High:                    70.15
Low:                     67.78

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
Resistance 5:      73.00 figure

Support 1:           69.44 June 25 high
Support 2:           69.00 figure 
Support 3:           68.30 supply/demand level 
Support 4:           67.72 June 26 low
Support 5:           67.16 June 14 high
Support 6:           66.53 June 20 high
Support 7:           65.71, June 22 low