Crude-oil futures have been climbing all year, and some traders may see further upside.

The first pattern on today’s chart is the March 6 high of 80.67. CL1! Bounced there two weeks later, potentially turning old resistance into new support. That’s could be a bullish signal.

Prices then rallied to a new six-month high near 88 before pulling back. They bottomed on Monday at 80.70. That slightly higher low on the weekly time frame may suggest an uptrend is taking shape.

Next, stochastics are rebounding from an oversold condition.

Finally, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA in early April. That may also suggest prices are turning higher over the longer term.

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Centered OscillatorsMoving AveragesSupport and Resistance

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