Crude oil WTI Technical Analysis: Rising wedge bear breakout should target 68.00 figure

• Crude oil main bull trend is currently on hold as the bears took over the market after breaking below the 70.00 figure. 
• Crude oil is correcting lower as the rising wedge broke to the downside. While some bullish pullback to $70.00 a barrel are possible, the market is set to continue to trade towards the 68.00-68.30 zone, figure and supply/demand level. 
• A sustained bull breakout above 70.00 would invalidate the bearish bias.  

Crude oil 480-minute chart

Spot rate:                  68.84
Relative change:      -0.76%     
High:                         69.59
Low:                          68.59

Main Trend:              Bullish 
Short-term trend:      Bearish below 70.00  

Resistance 1:      69.00 figure.
Resistance 2:      69.30 August 24 high 
Resistance 3:      69.44 June 25 high
Resistance 4:      70.00 figure
Resistance 3:      70.53 May 24 low 

Support 1:       68.00-68.30 zone, figure and supply/demand level
Support 2:       67.84 August 14 swing high
Support 3:       67.16 June 14 high
Support 4:       67.72 June 26 low