The (crude oil) price settled low in its last intraday trading, after relative halt to the bleeding of the losses after the relative strength indicators reaching oversold levels. The price begins to offload with these oversold conditions, especially with the emergence of positive overlapping signals on these indicators.

Despite these attempts, the negative pressure remains dominant on the trading, as there is a minor bearish wave on the short-term basis, besides the continuation of the trading below its EMA50, which reduces the chances of the price recovery on a near-term basis.

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