Oil Trying to Recover And The Positivity Needs Confirmation

US crude oil futures prices witnessed a bullish tendency during the previous trading session, after several successive sessions of decline.

Technically, on the short time frames, we find the 50-day moving average that started to hold the price from below, and there are positive features that started to appear on the RSI.

Therefore, we may witness a bullish corrective tendency in the coming hours, but the condition of breaching 60.20 is to enhance the chances of a bullish move towards 61.30, and we should pay close attention to monitoring the price behavior of oil in case 61.30 is touched, because breaching it may extend gains towards 62.30.

The bullish scenario requires intraday trading to remain above 58.30.

Note: the level of risk may be high today.

Note: a slight bullish trend does not contradict the daily bearish trend.

S1: 58.30	R1: 62.30
S2: 55.75	R2: 63.80
S3: 54.25	R3: 66.40