Crude Oil Attacks $69.00 And Positivity Remains

US crude oil futures prices opened their daily trading with an upward bias within the expected positive path during the previous analysis, to start attacking the resistance level of the psychological barrier 69.00, recording a high around 69.38.

Technically, with the breach resistance-into-support 68.20, in addition to the RSI gaining bullish momentum on the short time frames.

This encourages us to maintain our positive outlook, continuing towards the target of 69.80/70.00, taking into consideration that the confirmation of the recent breach is a catalyst that enhances the chances of visiting 70.40.

From below, the return of the stability of trading below 68.20 postpones the chances of a rise, but does not cancel it, and we may witness a retest of 67.20.

Note: IEA report of oil inventories is due today and may cause volatility.

S1: 68.20	R1: 69.80
S2: 67.20	R2: 70.40
S3: 66.55	R3: 71.40