Crude oil prices expand its gains, but signs of a reversal are looming on the horizon

The (crude oil) price extended its gains in its last intraday trading, taking advantage of the support’s stability at $62.00, besides breaching minor bearish trend line on the short-term basis, providing positive momentum that allows it to recover some of its previous losses.

Despite this rise, the negative pressure remains valid by the trading below EMA50, which limits the recovery expectation on the near-term basis, and the (RSI) reach overbought levels besides the emergence of negative divergence with the negative overlapping signal might indicate a possibility for losing the current momentum and entering new bearish wave.