Crude oil rose during its recent intraday trading, after a wave of sharp losses in its previous trading, leaning on its EMA50’s support, which provided bullish momentum that helped it to record temporary gains and attempted to recover some of its recent losses.
This improvement was accompanied by testing bullish corrective trend line on the short-term basis, besides forming positive divergence on the relative strength indicators, after reaching oversold levels, exaggeratedly compared to the price move, with the emergence of positive overlapping signals, which supports the possibilities of the positive trading continuation in the upcoming period.