Crude Oil Continues to Gain

US crude oil futures prices jumped to achieve noticeable gains within the expected positive outlook, surpassing the required official target 75.00, recording a high of 76.20.

Technically, oil prices are still working regularly within the bullish price channel as shown on the chart, and we find the 50-day moving average continuing to hold the price from below.

From here, the price stability above 74.40 encourages us to maintain our positive expectations, targeting 76.20/76.40, knowing that its breach increases and accelerates the strength of the daily bullish trend, so we will be waiting for 77.65 next station.

Trading below 74.40 will postpone the chances of rising and put the price under temporary negative pressure, targeting a retest of 73.70. 

Note: NFP is due today and we may witness high volatility.

S1: 73.70	R1:76.40
S2: 72.25	R2: 77.65
S3: 71.00	R3: 79.10