Oil Retest Support

Mixed trades dominated the futures price of US crude oil yesterday, to retest the support level of 59.40, to start the bullish rebound again, hovering now around the psychological barrier resistance of 60.00.

Technically, we tend to be negative in our intraday trades depending on the intraday trading stability below 60.45, which is accompanied by the negative crossover signals that began to appear on the stochastic indicator. We are targeting 59.40 and then 58.85, respectively.

The stability above 60.45 negates the retreat attempts on short time frames and leads oil to the official bullish path, with targets of 60.85 and extending towards 61.30.

Note: The level of risk may be high today.

Note: the indicated downside slight inclination does not contradict the general bullish trend.

S1: 59.40	R1: 60.45
S2: 58.85	R2: 60.85
S3: 58.40	R3: 61.45