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Oil Achieves Strong Gains

US crude oil futures rushed to achieve noticeable gains, attacking the psychological barrier of 63.00.

Technically, crude oil succeeding in confirming the breach of the 61.70 resistance level, which has now turned into a support level, in addition to the RSI continued attempts to obtain more bullish momentum.

Thus, the bullish bias is likely today, targeting 63.30 as a first target, and its breach will confirm the strength of the daily bullish trend, so that the way is directly open towards 63.90 and gains may extend later to 64.40.

From below, confirmation of the breach of the 61.70 support level, capable of stopping the expected rise, and we witness a re-test of 60.95 and then 60.40 before attempts to rise again.

S1: 61.70R1: 63.30   
S2: 60.95R2: 63.90   
S3: 60.40   R3: 64.70    

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