Crude oil prices experienced a decline in the last intraday trading session, but are expected to recover and continue on a bullish track, supported by stability above EMA50 and a bullish correctional wave.
The (crude oil) price declines in the last intraday trading, to begin profit taking stage after its previous gains, while it attempts at the same time to reinforce its bullish momentum to recover the bullish track again, offloading the clear overbought conditions on the (RSI), especially with the emerging of negative signals from there.
The trend remains supported by the stability of the price above EMA50, besides the dominance of the bullish correctional wave on a short-term basis, reinforcing the possibilities for the return of the recovery if the price manages to gain more of the momentum.
