From resistance to support
Technically all these resistances have become key supports, if they were violated to the downside, would resume the downtrend that began in October last year. At this moment, however, the trend seems to be at least long in the short term. The next target for crude oil should coincide with the static resistance at 66.10 dollars per barrel. From the current price, to the resistance just mentioned, there is only a minor level that could hinder this uptrend, the secondary resistance placed at $ 63.45. In any case, for now, it seems more likely that it will continue for the 66 $ rather than retrace it back into the 59/58 $ area.
On a fundamental level, the data on inventories continue to not improve, with important quantities still kept in storage because of the low demand. Production shows no sign of stopping. Despite this, the price of oil continues to rise. If it reaches 66 dollars per barrel, we will evaluate the possibility of entering short and keeping the position in the portfolio for a prolonged period.