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Positive trading continues to dominate the prices of US crude oil futures contracts after managed to score the goal of the retest level published during the previous analysis to return to the gradual rise again.
Technically, the bullish trend is still valid and active as a result of the price concentrating above the pivotal support floor 69.40, which is accompanied by the continuation of oil getting positive signs from the relative strength index.
Therefore, 71.00 is the first official target, taking into consideration that the confirmation of its breach increases and accelerates the strength of the bullish trend, so we will be waiting for 71.80/72.00.
From below, the price stability is below the previously breached resistance, which turned it to the level of 69.40, and most importantly 69.10 invalidates the activation of the bullish trend, and we witness a bearish slope whose target is to retest 68.00 before attempts to rise again.
| S1: 69.10 | R1:71.00 |
| S2: 67.85 | R2: 71.80 |
| S3: 67.00 | R3: 72.90 |
