Oil Continues to Make Gains

US crude oil futures prices started their first weekly trading on an upward slope touching our first awaited target last Friday to 57.10, recording its highest level during early trading for the current session 57.48.

Technically according to the rules dealing with price channels shown on the chart, as well as the continuation of the oil for a positive 50 average incentive day.

Consequently, the bullish scenario will remain valid towards our second target 57.80, bearing in mind that the breach of the aforementioned level is a catalyst that increases the probability of achieving gains towards 58.15.

The aforementioned scenario depends on trading remaining above 56.80, and in general above 56.10.

S1: 56.80	R1: 57.80
S2: 56.10	R2: 58.15
S3: 55.75	R3: 58.80