USOil Analysis Saudi Arabia hiked prices for July's crude oil | A1 Trading Setups w/ Nick & Frank

USOil Analysis
Saudi Arabia hiked prices for July's crude oil contracts as the US national average nears $5 a barrel which is close to 20 cents higher than last week's spot. The commodity is already down over 1.5% today and nearing support on the 4H timeframe. Price is right above some double top support in the $117s. There looks to be some resistance on the rising trend line about 2.5 points above current price.