Crude Oil Extends Gains

US crude oil futures prices managed to surpass the official target required to be achieved during the previous analysis at 61.75, attacking the psychological barrier of 63.00, recording a high of 63.42.

In terms of technical analysis, with the success of oil building on the support floor of 62.00, in addition to the RSI indicator continuing to receive positive signs.

This encourages us to hold onto our positive outlook, targeting 64.00 as a first target and gains may extend later towards 65.00. Trading below 62.00 delays the bullish chances, but does not cancel it, and we may see a re-test of 61.20 before attempting to rise again.

S1: 60.90	R1: 64.00
S2: 59.15	R2: 65.25
S3: 58.00	R3: 67.10