As we covered last week and as we can see from our previous chart:
Crude oil managed to break above the resistance level of 62.60, where the market may have the chance to sustain it’s advances as the next resistance level lies at 66.00-60.
From that zone the market may have the chance for a drop correction with a trading zone towards the support level of 59.00.
With the daily close of 66.60 above this level there may be a new uptrend wave towards the 74.00 zone.
| Support | Resistance | |
| Level 1 | 63.00 | 64.60 |
| Level 2 | 61.80 | 65.50 |
| Level 3 | 59.00 | 66.60 |
