Oil prices slid as trade tensions and troubled emerging markets notched the outlook for fuel demand, though U.S. sanctions against Iran aimed towards tighter supply ahead.

For the moment, crude oil is facing a strong support near $67.50, and above this, the market can go for further buying trend.

WTI Crude Oil – 4 Hour Chart

The immediate resistance is likely to be at $68.10 and $68.65. Whereas, the support prevails at $66.75 and $66.30. If you are interested in weekly trading levels, check out our recent update.

For today, taking buying positions only above $67.50 seems to be a good idea.