The crude oil price jumped high in its recent intraday trading, affected by the stability of the current support level at $57.40, providing some positive momentum that assisted it to achieve intraday gains, in attempt to recover some of its previous losses, attempting at the same time to offload some of its clear oversold conditions on the (RSI), especially with the beginning of the positive signal emergence.
This comes amid the dominance of the main bearish trend and its trading alongside the bias line, with the continuation of the negative pressure that is caused by its continuous trading below its EMA50.
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