Crude Oil - Technical Analysis: Thursday, 26/03/2015 07:51 GMT

Strong positive trading affected by the military attacks on Yemen, and Crude oil price is approaching from the sideways range resistance located at 54.20.

More rise will be expected, noting that breaching the mentioned resistance will complete forming a double bottom pattern that will allow the price to achieve gains that extend to 65.00.

The overbought signal that appears on stochastic might slow down the current bullish wave, and urges us to monitor the price behavior when approaching from 54.20 level.