The (crude oil) declined slightly in its last intraday trading, in natural correctional move after breaching the critical resistance level at $65.55 yesterday, which represented the top line of a dominant sideways trading area on a short- term basis.
This decline comes as an attempt to gather gains and offloading the clear overbought on the (RSI), especially with the beginning of the negative overlapping signals appearance on these indicators, which may confine the bullish momentum temporarily, but the stability of the support near the support of EMA50 reinforces the chances for holding and rebounding, as the average represents a significant dynamic support that keeps the positive track valid.
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