Crude oil price managed to settle in its recent intraday trading, after reducing its losses, taking advantage of its lean on a bullish correctional trend line on the short-term basis, accompanied by its lean on the support of its EMA50, which reinforced its ability to bounce higher.
This movement was supported by consecutive positive signals from the (RSI), which suggest the return of the overbought momentum gradually, providing opportunity for building a new bullish wave, if it settles above the key technical support levels.
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