Taking a look at WTI crude on the 1-hour timeframe as we can see it is trying to consolidate but the resistance is making it tough.

Taking a look at WTI crude on the 1-hour timeframe as we can see it is trying to consolidate but the resistance is making it tough. It has tried to break above $68.84, and even though the price has temporarily moved above it reaching $69.05, it then quickly pulled back and actually closed at $68.48. Currently, WTI crude is trading at around $68.49 a barrel. Towards the downside, the next level of support sits at $68.14, a break and close below this price could see a move lower towards $67.12. Which is the key support along the white trendline. On the other hand, we may see a turnaround towards the upside as markets are now looking to key Chinese economic data for demand indications. Hence, resistance sits at $68.81 (20-day MA) then at $69.14 (50-day MA) and then at $69.29 (100-day MA). Looking at the indicators, MACD is flat-neutral and RSI is also neutral as it reads 45.