Oil Making Good Gains, And Eyes on OPEC Meeting

US crude oil futures prices returned to the bullish track as we expected, touching the required retest target at 74.00, recording its highest level at 74.12.

 Technically, we find the 50-day moving average holding the price from below, in support of more rise, in addition to stabilizing intraday trading above the psychological support level of 73.00.

We tend to be positive, but cautiously, targeting 74.20 first target, knowing that breaching the mentioned level increases and accelerates the strength of the daily bullish trend to visit the second target 74.80/75.00.

Only from below breaking 72.80 and stabilizing the price below it will immediately stop the bullish trend and put the price under strong negative pressure, targeting 72.10 and 71.50, respectively.

Note: the level of risk is high. 

Note: OPEC+ meeting under spotlight and we may witness high volatility in prices.

S1: 72.80	R1:74.20
S2: 72.10	R2: 74.80
S3: 71.50	R3: 75.45