Crude Oil - Technical Analysis: Sunday, 31/05/2015 09:29 GMT

Crude oil price consolidation above the ascending channel’s support and bouncing bullishly supports the continuation of the main bullish trend, with positive signals coming from stochastic now on the daily time frame.

The exponential moving averages 50 and 100 provides good positive support to the bullish wave, and building solid support base above the previously breached 23.6% Fibonacci level to turn now into support at 57.48.