False breakout on WTI oil?

WTI oil accelerates its bullish momentum due to the tensions between the United States and Iran, also the drop in crude production by Venezuela has also supported the price of oil. The price of WTI oil breaks above the 70.00 level and continues rallying to the 70.82 level from where it pulls back to the 70.00 zone. The breakout above the 70.00 level has not been confirmed yet, therefore we could see what is known as a false breakout. If the price of WTI oil goes back below the 70.00 level, then it would be entering the congestion area shown on the daily chart, where the price may consolidate with a good support at the 66.00 level. Just below the 66.00 level we can see the 55 day EMA (purple line), which could also contribute to support the price of WTI around that zone. On the other hand, if the price keeps rallying, then its next resistance could be the 72.00 level or any round number level to the 77.13 zone where we can find the 200 month EMA.