The (crude oil) declined in its last intraday trading, but it remains stable above the critical support at $65.55, keeping the chances for resuming the bullish moves valid in the upcoming period, this last decline comes in attempt to gain the required bullish momentum to support its potential rise, besides the continuous dynamic pressure of EMA50, reinforcing the strength of this level as an important leaning point.

The price attempts to offload its clear overbought condition on the (RSI), with the beginning of the negative signs appearing from them, opening the way for achieving more of the gains on the upcoming intraday basis.

Therefore, our expectations suggest a rise in (crude oil) prices in the upcoming intraday trading, especially if it settles above the support mentioned at $65.55, to target resistance levels at $68.00.

The expected trading range is between $64.50 support and $68.00 resistance.

Todays forecast: Bullish