Technical Analysis
Crude has been on an uptrend for the past week and has tested the 61.00 line for the first time since mid-September. Above, the line of 61.50 is vulnerable. The next resistance line is at 62.25.
On the downside, 58.50 has some breathing room in support as the pair has moved to higher levels. Below, there is support at 57.50. There was a significant development earlier in the week, the 50-EMA crossed above the 200-EMA, which is a bullish sign for crude.