The Crude Oil Trend Remains Bullish Asprices Retested A Key Support Level

Crude Oil Daily chart continues in “Rising wedge” pattern. The trend remains bullish as prices retested a Key support level at $60(3810). 

As per the technical aspects of the pattern, the retest is expected to push the market furthermore and the upside rally could test $63-64(4000-4064) levels in the upcoming sessions. 

Once the market reaches the major resistance level holding at $64(4064), then it might have a chance to turn bearish once again. RSI indicates overbought near 71.80 points.

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