Oil Keeps The Upward Path

Crude oil futures were mixed, but tended to be positive, to record the highest level during the past week at 46.65.

Technically, the simple moving averages are still holding the price in support of the bullish daily curve, and the RSI indicator is stable above the 50-day midline on short time intervals.

Therefore, with trading remaining above the support level of 45.60 / 45.50, a bullish bias is likely today, targeting 46.40 as a first target, and a breach thereof enhances the chances of an upside to visit 46.85, and gains may extend towards 47.10.

A reminder that activating the suggested scenario requires remaining above 45.60, and confirming its breakout, will negate the suggested scenario and put the price under temporary negative pressure, whose target is 44.70.

S1: 45.60	R1: 46.40
S2: 45.20	R2: 46.85
S3: 44.70	R3: 47.10