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US crude oil futures prices jumped to achieve noticeable gains during the previous trading session, touching the official target station of 64.00, to record its highest level at 64.50.
Technically, the 50-day moving average is still holding the price from below, and this comes in conjunction with the RSI indicator continuing to defend the upside.
From here, with steady trading above the support level of 62.80 and the most important 62.50, the bullish scenario will remain valid and effective, with the first target of 64.50/64.60, and then 65.40.
Trading again below 62.50 delays bullish chances, and we will see a re-test of 61.90 before attempting to rise again.
Note: Stochastic is trading around overbought areas.
| S1: 62.80 | R1: 64.55 |
| S2: 61.90 | R2: 65.40 |
| S3: 60.05 | R3: 66.30 |
