Oil Starts The Week on Positive Side

Futures prices opened their weekly trading with bullish bias, consolidating above the psychological barrier of $ 40.00.

Technically, we tend to be positive, given the positive signs that began to appear on the RSI, settling above the 50 midline, in addition to the positive stimulus coming from the 50-day moving average, in addition to the features of the bullish technical structure shown on the chart.

Thus, a bullish bias will be likely today targeting 41.00 / 40.90 as a first target, bearing in mind that trading above 41.00 is extending gains to pave the way towards 41.70.

Only below 40.00, chances of incline will be postponed to witness a bearish slope targeting 39.20 before rising again.

S1: 40.00	R1: 40.95
S2: 39.70	R2: 41.30
S3: 39.20	R3: 41.70