Oil rallies above an important resistance

On the daily chart of the WTI oil we can see that the commodity has been pulling back from the 72.91 zone to the 63.33 level. Oil consolidates around the 65.00 level since the end of May, but today oil rallies rapidly and breaks above the 55 day EMA (purple line) and breaks above the 68.00 level. In case of continuing higher, the price of oil may reach a resistance area around the 70.00 level. Above the 70.00 level, the zone around the 72.00 level and the 72.91 level may act as resistance. In case the price of WTI oil breaks below the 68.00 level, it would be entering again its congestion area around the 65.00 level where it may consolidate again. To the bottom, the 63.33 level could act as a support, but the 62.00 level could act as a better support with the 200 day EMA (blue line) crossing very close around that level.