The (crude oil) rose sharply in its last intraday trading, taking advantage from the strength of the critical support level at $60.00, which assisted in decreasing the previous losses and providing a clear positive momentum, this rise was supported by the emergence of the positive signals on the (RSI), after entering exaggerated oversold levels, which supported activating new bought process.
The price breached the resistance of its EMA50, as an important technical step that indicates a serious attempt to surpass the previous negative pressures, this breach might open the way for the continuation of the bullish wave and targeting higher levels on the short-term basis.
