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Positive trading returned to control the movements of US crude oil futures during the previous trading session in a mixed path, to return again targeting a re-test of 46.20.
Technically, the current moves are holding above the 45.00 support level, and the positive motive coming from the 50-day moving average that has returned to hold the price, accompanied by the positive signs on the RSI.
Consequently, we may witness a slight bullish tendency during the coming hours, but on condition of crossing the upside and confirming the breach of 46.20, which is a catalyst that strengthens the chances of the upside towards 46.80, and the gains may extend later to visit 47.30.
Stability below the solid support floor at 45.00 will immediately stop the upside and return to the negativity with targets starting at 44.40 and then 43.70, respectively.
| S1: 45.00 | R1: 46.20 |
| S2: 44.45 | R2: 46.80 |
| S3: 43.70 | R3: 47.50 |
