Crude oil is currently strengthening towards its nearest resistance level.

[Crude Oil]

With all technical indicators condition signaling the strength for #CL, there is potential today for Crude Oil to rise toward its nearest resistance level.

Key Levels

1. Resistance. 2 : 77.44

2. Resistance. 1 : 74.22

3. Pivot : 71.77

4. Support. 1 : 68.55

5. Support. 2 : 66.10

Tactical Scenario

Positive Reaction Zone: If #CL breaks out and closes above 74.22, it may move up toward 77.44.

Momentum Extension Bias: If 77.44 is broken, #CL could extend its advance to 79.89.

Invalidation Level / Bias Revision

The upside bias weakens if #CL falls below 66.10.

Technical Summary

EMA(50) : 71.09

EMA(200): 68.34

RSI(14) : 58.64

Economic News Release Agenda :

Tonight the United States will release the following economic data:

US - RCM/TIPP Economic Optimism - Tentative

US - Wards Total Vehicle Sales - All Days

US - API Weekly Statistical Bulletin - 04:30 WIB