Crude Oil WTI Technical Analysis: Bearish Head-and-Shoulder pattern enters into play as Black Gold slips to $73.00 a barrel

• Crude oil is trading in a bull trend but the head-and-shoulders pattern is giving bulls a hard time to continue to advance for the time being. 
• Crude oil retreated to the 73.00 figure and 100-period simple moving average where it is having a small bounce as the down move seems exhausted for Wednesday. However, oil is set to remain under pressure below 75.19 October 5 high (the right shoulder). 
• Supports to the downside can be located near 72.00 figure, 71.45 (September 26 low) and 70.00 figure.

Crude oil WTI 4-hour chart

Rate:                         73.28
Relative change:      -1.82%     
High:                         75.06
Low:                          73.11

Main Trend:               Bullish

Resistance 1:           74.00 figure 
Resistance 2:           75.19 October 5 high
Resistance 3:           75.88 intraday swing high
Resistance 4:           76.00 figure
Resistance 5:           77.00 figure
Resistance 6:           77.83 November 21, 2014 high
Resistance 7:           80.00 round figure

Support 1:                74.00 figure 
Support 2:                73.00 figure
Support 3:                72.00 figure
Support 4:                71.45 September 26 low
Support 5:                70.53 May 24 low