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Crude oil prices advanced in the latest intraday trading session, supported by a prevailing short-term bullish trend. The commodity continues to trade along both major and minor upward trend lines, further reinforcing this positive momentum.
Its sustained position above the 50-day Exponential Moving Average (EMA50) underpins the likelihood of the ongoing uptrend.
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The recent price action followed the formation of a rising low, which established a solid base for a robust bullish rally.
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This movement coincided with the emergence of positive signals on the Relative Strength Index (RSI) after it rebounded from oversold territory, bolstering the prospects for continued gains in the near term.
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