Crude Oil Continues to Gain Ground

US crude oil futures prices were able to maintain their gains within the bullish context, as we expected touching the official target station during the previous analysis at a price of 53.90, recording the highest around 53.87.

Technically, the daily trend is still up, with the price succeeding in stabilizing above the previously breached resistance level, which has now turned into a support level at 53.20, in addition to the RSI stability above the midline, maintaining the bullish momentum.

Therefore, the bullish scenario will remain valid and effective, noting that confirming the breach of 53.90 / 54.00 increases and accelerates the strength of the bullish trend, with the first target of 54.40 and then 55.00 respectively.

A reminder that the return of price stability and stability below 53.20 delays the bullish chances, but does not eliminate it, and that prices may witness a bearish intraday path targeting 51.40 before rising again.

Note: Today we await the report from the International Energy Agency regarding crude oil inventories, and prices may be affected

S1: 52.50	R1: 54.40
S2: 51.35	R2: 55.05
S3: 50.70	R3: 56.25