The (crude oil) declined in its last intraday trading, in a correctional move that targets catching breath before resuming the rise, where it attempts to gain the required positive momentum to attack the stubborn critical resistance at $63.50.

The decline comes within the trading alongside a bullish correctional bias on the short-term basis, with the continuation of the upcoming bullish support from its trading above EMA50, besides the emergence of positive signals from the (RSI) after exiting the oversold levels, reinforcing the possibilities of resuming the decline again.

Therefore, our expectations suggest a rise in (crude oil) prices in the upcoming intraday trading, conditioned by the breaching the mentioned resistance at $63.50 to confirm its bullish momentum to reach its initial resistance at $64.75.

The expected trading range is between $61.80 support and $64.10 resistance.

Todays forecast: Bullish