Noor Trends News, Technical Analysis, Educational Tools and Recommendations
US crude oil futures prices continue to achieve gains, as we expected, touching our first target at 72.40, to record its highest level during the early trading of the current session, 72.40.
Technically, with the regularity of work within the bullish price channel shown on the chart and the continuation of oil prices receiving a positive stimulus from the simple moving averages that continue to hold the price.
Therefore, chances of the rise remain valid, towards the second target of 72.80, knowing that the breach of the mentioned level is a catalyst that enhances the chances of rising to visit 73.30.
Stability below the support level 71.00 can thwart the attempts to rise, and we will witness bearish movements with the target of 70.70, while its official target is 70.20.
| S1: 71.55 | R1: 72.80 |
| S2: 70.70 | R2: 73.30 |
| S3: 70.20 | R3: 74.10 |
