Noor Trends News, Technical Analysis, Educational Tools and Recommendations
US crude oil futures prices fell significantly during the previous session’s trading, to record its lowest level at 63.07. Technically, trading remains stable below 64.20/64.30 supports the continuation of the decline, in addition to the negative signs coming from the RSI on short time frames.
Technically, we will maintain our negative outlook, knowing that trading below 63.10 facilitates the task required to visit 62.50 the first target, and then 61.50 an official expected stop.
A reminder that surpassing the upside and rising above 64.30 negates the activation of the bearish tendency over short periods of time, and we may witness a re-test of 64.80, and gains may extend later towards 65.20.
Note: The level of risk may be high today.
| S1: 62.50 | R1: 65.25 |
| S2: 61.45 | R2: 66.90 |
| S3: 59.80 | R3: 68.00 |
