2
Crude oil prices continued their upward trajectory during recent intraday trading, driven by the dominance of a short-term bullish correctional trend. The price movement remains aligned with a guiding trendline, supported by sustained trading above the 50-day Exponential Moving Average (EMA50), which adds to the prevailing positive momentum.
Despite early signs of emerging negative signals on the Relative Strength Index (RSI), the market has effectively neutralized prior overbought conditions. The ongoing price ascent, in the face of these indicators, underscores the strength of prevailing buying pressure, pointing toward continued bullish sentiment in the near term.
Advertisements
You Might Be Interested In:
