Crude Oil Maintains Gains, Eyes on Stocks

Positive trading continues to dominate the prices of US crude oil futures contracts within the expected bullish context, touching the initial official station at 75.00, posting a high during the last session’s trading at 75.50

Technically, the stability of the intraday trading above the psychological barrier supports the possibility of continuing the rise. In addition, we find that the RSI continues to gain bullish momentum that supports the bullish scenario.

Therefore, the bullish scenario will remain valid, targeting 75.70, followed by the second target of 76.00, and its breach is a catalyst that opens the way for oil prices to visit 76.50. However, the upside trend depends on the stability of trading above the previously breached resistance level, which turned to the support level of 73.40.

Note: IEA data are due today and may cause volatility

S1: 73.90	R1:75.70
S2: 72.85	R2: 76.50
S3: 72.05	R3: 77.50