Crude oil continues to edge higher amid lack of improvements in the Middle East. As a reminder, the Saudi Arabia-Houthis conflict has intensified recently with the Houthis attacking many Saudi targets, including Riyadh's international airport and the Aramco headquarters complex in Dhahran. They have threatened further attacks on airports and energy infrastructure, while Saudi-backed forces are fighting the Houthis inside Yemen.Commercial shipping through the Strait of Hormuz continues to be disrupted. Two vessels sank recently after being hit by Iranian forces. Iran's leadership said it will continue fighting until the US accepts its demands. Finally, Reuters reported today that, according to CNN, the US military has developed contingency plans that could include using the MOAB bomb (the largest non-nuclear bomb) against Iranian energy infrastructure or nuclear-related sites if Trump orders renewed combat operations. Reuters added it could not independently verify the report, and this is just contingency planning, not confirmation that the bomb will be used. Looking ahead, the focus will remain on the Middle East developments. Oil prices will likely continue to be supported until we get a de-escalation or a breakthrough in US-Iran negotiations. I would also start paying attention to the growth outlook as a deterioration and strong selloff in the stock market could weigh on oil prices too. CRUDE OIL TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that crude oil(CFD contract) continues to rise steadily given the lack of improvements in the Middle East. If the price pulls back into the lower bound of the channel again, we can expect the buyers to step in, with a defined risk below the channel, to position for a rally into the 110.00 resistance. The sellers, on the other hand, will look for a break lower to pile in for a drop into the 68.00 support next, with the 80.00 level as the first target.CRUDE OIL TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we have a minor upward trendline defining the bullish momentum. The buyers will likely continue to lean on the trendline, with a defined risk below it, to keep pushing into new highs. The sellers, on the other hand, will look for a break lower to extend the pullback into the lower bound of the channel, targeting a break below it.CRUDE OIL TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, we can see the price is approaching the 96.77 level. We can expect the sellers to step in around the 96.77 level, with a defined risk above it, to position for a drop into the lower bound of the channel. The buyers, on the other hand, will look for a break higher to increase the bullish bets into the 110.00 resistance next. The red lines define the average daily range for today. UPCOMING CATALYSTSToday we get the US PPI, the US Retail Sales and the latest US Jobless Claims figures. We have also Fed Chair Warsh speaking very late in the day in a fireside chat with IMF Managing Director Georgieva. The focus, though, will remain on the Middle East developments. This article was written by Giuseppe Dellamotta at investinglive.com.