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US crude oil futures prices managed to touch the first official target station during the previous analysis, located at the price of 71.00, recording its highest level of 71.22.
Technically, the stochastic is trading around the overbought areas and the negativity signs started to appear on the stochastic, missing the bullish momentum gradually. The daily trend is still bullish, but we may witness a bearish trend in the coming hours, with the aim of retesting 70.00/69.90 before rising again.
Note: Skipping up and rising again above 71.45 will immediately stop the possibility of re-testing and lead oil to regain the official bullish path with a target of 72.20.
| S1: 69.90 | R1:71.45 |
| S2: 69.00 | R2: 72.20 |
| S3: 68.40 | R3: 73.00 |
