Oil Touches The Extended Target

US crude oil futures prices achieved noticeable gains, surpassing the awaited target at 77.40, touching 78.36.

Technically, oil prices maintained the trading level above the 77.00 support barrier, accompanied by obtaining bullish momentum signals from the RSI over the short time intervals.

Thus, the bullish trend is the most preferred during today’s session, knowing that the breach of 78.40 increases and accelerates the bullish trend so that we will be waiting for 78.95 and 80.10 next official stations.

The return of trading stability below the support level of 77.00 postpones the chances of rising but does not cancel them, and we may witness a retest of 76.00 before attempts to rise again. Warning: the risk level may be high today.

S1: 75.90	R1: 78.95
S2: 74.10	R2: 80.15
S3: 72.85	R3: 82.05