CRUDE OIL: Price Build Up Targets The 58.79 Resistance Zone

Technical analysis of Forex market

CRUDE OIL price build up targets the 58.79 resistance zone as it retains its strength. Support lies at the 57.50 level where a break will expose the 57.00 level. A cut through here will set the stage for a run at the 56.50 level. Further down, support comes in at the 56.00. On the upside, resistance resides at the 58.50 levels. Further out, resistance comes in at the 59.00 level. A break above here will aim at the 59.50 level and then the 60.00 level followed by the 60.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, CRUDE OIL remains on further recovery threats.

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