Crude oil price trading confines within a bullish pennant flag’s pattern, which means that breaching the resistance of this pattern at 59.35 will provide a strong positive motive that supports the continuation of the bullish trend in the upcoming period.
Therefore, we keep preferring the bullish trend if the price settled above 57.40 level, pointing that we are waiting for visiting 60.90 level as a next main target.
The expected trading range for today is between 58.00 support and 60.90 resistance.
The expected trend for today: Bullish