Crude Oil Close to $60.00

US crude oil futures prices continue to achieve gains within the expected series of rises, touching the official target station during the previous analysis, at 58.15, recording a high of 58.50.

Technically, with oil continuing to get a positive stimulus from the simple moving averages, which is accompanied by the positive signs coming from the RSI and its stability above the middle line.

From here, with steady trading above 57.60 and in general above 56.80, the bullish scenario remains valid and effective targeting 58.80 as the first target, bearing in mind that the breakout of the latter extends oil’s gains, opening the way to visit 59.30, and then the psychological barrier of 60.00.

A reminder that confirming a breach of 56.80 negates the suggested bullish scenario and leads the price to retest 56.40 and 56.10, respectively, before resuming the rise again.

S1: 57.60	R1: 58.80
S2: 56.85	R2: 59.30
S3: 56.40	R3: 60.00