Noor Trends News, Technical Analysis, Educational Tools and Recommendations
US crude oil futures prices fell significantly during the previous session, cancelling the positive outlook, as we expected touching the stop-loss order published during the last analysis at a price of 62.30, recording the lowest price at 61.36.
Technically, on short intervals, we find the RSI trying to obtain bullish momentum that may push prices to the upside, and we find the price is intraday stable above 62.00.
From here, we may witness a bullish bias in the coming hours, targeting a re-test of 63.50. Trading below 62.00 and stabilizing the price below it will immediately stop the intraday bullish attempts and put the price under negative pressure again, with its targets starting around 61.30 and extending to 60.20
| S1: 61.30 | R1: 63.55 |
| S2: 60.20 | R2: 64.65 |
| S3: 59.10 | R3: 65.70 |
