The (crude oil) prices rose in the last intraday trading, affected by the stability of the critical support level at $61.50, besides the emergence of the positive signals on the relative strength indicators, after reaching oversold levels, which pushed the price to attempt to recover its previous losses and offload this oversold condition.
On the other hand, the negative pressure remains dominant, due to the trading below EMA50, reducing the chances of recovery on near-term basis, this comes amid the continuation of steep bearish sub- wave on the short-term basis, indicating the strength of the negative momentum.
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