Noor Trends News, Technical Analysis, Educational Tools and Recommendations
US crude oil futures extended the upward trend highlighted in the previous technical report, reaching the first target at $60.00 and coming within a few points of the next target at $60.60, after recording a high of $60.45.
Technical Outlook – 4-Hour Timeframe:
Prices continue to move along a minor ascending trend line while remaining above the 50-day simple moving average, which provides strong dynamic support and reinforces the bullish bias. This is supported by positive signals from the Relative Strength Index (RSI), reflecting strengthening upward momentum.
With trading holding above $59.55, the outlook favors a continuation of the upward trend. A confirmed break above the $60.55 resistance level could open the way for further gains toward $60.80, followed by $61.00.
However, stability below the aforementioned support level could place temporary downward pressure on prices, potentially leading to a retest of $58.50.
Warning: The level of risk is high amid ongoing trade and geopolitical tensions, and all scenarios remain possible.
Trading in CFDs involves high risk, and therefore all scenarios are subject to potential outcomes. The analysis provided above is not a recommendation to buy or sell but rather an illustrative reading of price action on the chart.
| S1: 59.55 | R1: 60.55 |
| S2: 59.00 | R2: 61.00 |
| S3: 58.50 | R3: 61.55 |
