Noor Trends News, Technical Analysis, Educational Tools and Recommendations
US crude oil futures prices achieved remarkable gains during the previous trading session, heading to visit the target required to be achieved at 51.00, recording its highest levels of 51.03.
Technically, we tend to be positive in our trades, relying on trading stability above 50.00 accompanied by the positive motivation of the simple moving averages that support the upward curve of prices, coinciding with the continuation of the RSI protecting for the bullish daily trend.
Consequently, the breach of the resistance level at 51.00 confirms and accelerates the strength of the bullish trend, with a target of 51.50, and later extends towards 52.10.
Only from below is the return of trading to stability below 50.00, and the most important 49.85 is able to defuse the bullish attempts temporarily, and we witness a re-test of 48.80 before resuming the rise again. Warning: The level of risk may be high today.
| S1: 49.85 | R1: 51.50 |
| S2: 48.80 | R2: 52.10 |
| S3: 48.20 | R3: 53.10 |
