Crude Oil: Negative Pressure Remains

US crude oil provided positive trades during the previous trading session, but the positivity is still limited due to the price stability below the resistance level published during the previous analysis, located at 59.80.

Technically, we support the occurrence of a bearish bias in the coming hours, relying on stability below the aforementioned level, in addition to the negative signs coming from the stochastic indicator and its gradual loss of the bullish momentum. We target a retest of 59.00/58.80 the first target, knowing that breaking the last puts the price under negative pressure to continue the downside path with the goal of 58.40.

From the top, surpassing the upside resistance level of 59.80, and the most important 60.15, is capable of completely aborting the bearish scenario, and oil regains its recovery again, with a preliminary target of 60.60 and extends to 61.20.

S1: 59.00	R1: 60.15
S2: 58.35	R2: 60.60
S3: 57.90	R3: 61.25