Crude Oil Starts Positively

The movements of US crude oil futures witnessed a bullish tendency, benefiting from stability above the psychological barrier support of 64.00, as the current moves witnessed stability around the highest level during the 64.65 session.

Technically, the RSI indicator defends the upside, in addition to the positive stimulus of the simple moving averages that came back to hold the price from below.

Thus, a bullish bias is likely today, knowing that the confirmation of a breach of 64.65 will extend oil’s gains towards 65.00/65.10 a first target, and then an awaited station after 65.75.

In a way, we will continue favoring the upside as long as trading is generally stable above 63.30.

S1: 63.30	R1: 65.10
S2: 62.20	R2: 65.75
S3: 61.50	R3: 66.80