Crude oil gains profits – Technical Analysis – 12-10-2015

Crude oil price declined by last week ending to gain the last short term rise profits, after forming a positive symmetrical triangle pattern, with continuous positive pressure from the moving average 50, besides positive signals by the relative strength index indicators, and the stability above the key support 49.30.

Thus, we expect the return to rise in the coming period, targeting 51.80 resistance as a main target for the above mentioned pattern.