Crude Oil Continues to Rise Gradually

Positive trading dominated the futures price of US crude oil within the positive outlook expected during the previous analysis, to record its highest level at 63.54.

Technically, oil prices succeeded in building a base on the support floor of the psychological barrier 62.00, accompanied by the positive stimulus of the 50-day moving average, which coincides with the stability of the RSI above the 50 midlines.

Therefore, we maintain our positive outlook, knowing that confirming the breach of 63.50 increases and accelerates the strength of the upside to visit 64.00, and then 64.50, a next station that may extend its targets later to a visit of 65.60.

The activation of the bullish scenario requires stability above 62.00, and breaking it is able to delay the bullish trend, and we witness a re-test of 61.20/61.00 before attempting to rise again.

Note: The level of risk may be high.

S1: 61.30	R1: 64.50
S2: 59.25	R2: 65.60
S3: 58.10	R3: 67.60