Crude oil price shows slight negative trading within minor bearish channel that appears on the chart, which we believe it forms bullish flag pattern, which means that breaching 60.50 will provide good positive motive that will allow the price to breach 60.86 followed by opening the way to head towards our extended positive targets that reach 63.00.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the price stability above 59.80, as breaking this level might push the price to test 58.65 areas initially before any new attempt to rise.
The expected trading range for today is between 59.00 support and 62.00 resistance.
The expected trend for today: Bullish