Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trading continues to dominate the movements of US crude oil futures, touching the first target to be achieved last Friday, at 42.30, to post high at 42.52.
Technically, we find that the price has benefited significantly from building a base above 41.90, and the RSI indicator continues to defend the upside, accompanied by the positive stimulus coming from the 50-day moving average.
Therefore, the bullish scenario will remain valid and effective targeting 42.70 / 42.80, and its breach will increase and confirm the strength of the bullish bias, with the next target of 43.10 and may extend to 43.50.
A reminder that activating the suggested scenario requires stability above 41.90, trading below it delays the chances of an upside but does not cancel it, and we may witness a re-test of 40.90 before attempting to rise again.
| S1: 41.90 | R1: 42.70 |
| S2: 40.30 | R2: 43.10 |
| S3: 40.80 | R3: 43.60 |
