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Mixed trades dominated the US crude oil futures price within a sideways context confined from the bottom above 51.80 and from the top below 52.80.
Technically, by looking at the 60-minute chart, we find oil is trying positively, based on the stability of intraday trading above 52.20 and in general above 51.80, and the simple moving averages are trying to push the price higher.
We tend to the intraday positive, but cautiously, targeting the extended resistance 52.80 / 53.00, a first target, bearing in mind that confirming the recent breach is a catalyst that increases the probability of touching 53.45.
Trading again below 51.80 is able to negate the suggested bullish scenario and lead the price to the official descending path with the goal of 51.25 and extending to 50.75.
| S1: 51.80 | R1: 53.00 |
| S2: 51.25 | R2: 53.45 |
| S3: 50.75 | R3: 54.10 |
