Crude Oil Trying to Recover

US crude oil futures prices are trying to recover after the decline that occurred during last week’s trading, as the current moves witnessed an intraday stability above 60.50.

Technically, we tend to be positive, but cautiously, relying on the RSI’s support for the bullish bias during the coming hours, coinciding with the positive features that began to appear on Stochastic.

From here, we may witness a bullish bias over the coming hours, with the initial target is 61.80, and then 62.20, respectively. From below, the return of trading to stability again below 60.40 will immediately stop the expected bullish scenario and put the price under strong negative pressure, its initial target is 59.45.

Note: The level of risk may be high today.

S1: 59.45	R1: 62.20
S2: 57.80	R2: 63.40
S3: 56.65	R3: 65.00