Crude oil prices rose due to critical support at $61.60, with bullish momentum and positive signals on the RSI
Bearish trend dominance continues with negative pressures below EMA50, limiting strength of rise without surpassing critical resistance levels
The (crude oil) price soared in the last intraday trading, supported by the stability of the critical support at $61.60, reinforced by its rebound and providing clear bullish momentum, this intraday recovery accompanied by the emergence of positive overlapping signals on the (RSI), increasing the possibilities for extending the short-term rebound.
The overall view remains under the dominance of the bearish trend, especially with the continuation of the negative pressures that comes from its stability below its EMA50, limiting the strength of any rise unless surpassing critical resistance levels that confirms a rebound.
