Crude Oil - Technical Analysis: Monday, 06/03/2017 06:30 GMT

Crude oil price achieved some gains after approaching from 52.44 level, facing the most important resistance at 53.20, as the price needs to surpass this level to confirm the continuation of the bullish trend, to head towards the first main target at 54.15.

In general, the bullish trend still valid on the short term and medium term basis, and surpassing 54.15 will confirm heading towards the recent top at 56.92, while breaking 52.44 will push the price to extend its bearish correction to 51.05 initially.