The (crude oil) settled with strong gains in its last intraday trading, supported by the attempt of recovering previous losses, where the price retested minor bullish channel’s support that confined the price in its previous trading on the short-term basis, accompanied by reaching the EMA50’s resistance, which adds technical pressure that might limit the continuation of this rise.
At the same time, we notice the (RSI) reach oversold levels, indicating the possibility of forming negative divergence, this signal may indicate the weakness of the positive momentum, and suggest potential return to the selling pressure unless confirming breaching the mentioned resistance.