Noor Trends News, Technical Analysis, Educational Tools and Recommendations
U.S. crude oil futures advanced in the previous session, in line with our prior technical outlook. As anticipated, a confirmed break above the 62.60 level triggered further gains toward 63.35, with prices extending higher to a peak near 64.17.
Technical Outlook – 4-Hour Chart
Simple moving averages have shifted back into a supportive role, providing dynamic support from below and reinforcing positive momentum. In addition, price stability along an ascending trend line continues to strengthen the bullish structure and supports the case for further upside.
Expected Scenario
As long as daily trading remains above the 62.70 support level, the bullish trend remains the preferred outlook, with 64.90 standing as the first upside target. A sustained break above this level would likely reinforce the advance and open the way toward 65.50.
On the downside, a return to trading below 62.70 would weaken the bullish setup and could place prices under renewed pressure, with scope for a pullback toward 61.90.
Market Note:
High-impact U.S. economic data is due today, particularly the Non-Farm Payrolls (NFP) report and the ISM Services PMI, which may trigger sharp volatility.
Risk Warning:
Market conditions remain high-risk 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: 61.90 | R1: 64.90 |
| S2: 60.00 | R2: 66.05 |
| S3: 58.85 | R3: 67.95 |
