The (Crude oil) price settled upside in its recent intraday trading, in attempt to return to settle above $61.25, indicating the attempts to surpass this key technical barrier, this comes amid the continuation of trading above its EMA50, providing dynamic support that reinforces the stability of the trading on a short-term basis.

This bullish movement gains more strength by the emergence of the positive signals on the (RSI), accompanied by the stability of the price under a bullish correctional trend on the short-term basis, which supports the continuation of the rise if the price manages to settle in its upcoming trading.

Therefore, our expectations suggest the rise for crude oil upcoming trading, if the price returns to settle above $61.25, to open the way towards achieving more of the gains, to target the critical resistance at $64.75.

The expected trading range is between $60.00 support and $62.90 resistance.

Todays forecast: Bullish

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