Oil Continues to Rise Ahead of The OPEC Meeting

US crude oil futures prices jumped during the previous trading session, negates the negative outlook, as we expected, touching the stop-loss order published during the previous report at 67.30 to record the highest level of 67.68.

Technically, the clear positive signs on the RSI indicator and its stability above the mid-50 line support the incline, and this comes in conjunction with the clear positive crossover signals on the stochastic oscillator.

Therefore, there is a possibility to continue rising, targeting 68.00 next station, whose targets may extend later to visit 68.50, and then 69.30.

A reminder that the activation of the bullish scenario depends on the ability of oil prices to remain above the pivotal support of 66.20.

Note: the level of risk is high and not commensurate with the expected return.

Note: Today we are awaiting the results of the monthly OPEC + meeting, and prices may witness high fluctuations.

S1: 66.70	R1: 68.00
S2: 65.90	R2: 68.50
S3: 65.40	R3: 69.30