Crude Oil - Technical Analysis: Thursday, 18/05/2017 07:44 GMT

Crude oil price showed clear rise yesterday to approach from testing the recently recorded top at 49.66, but it returns to decline and settle below 49.05, to keep the bearish trend expected for the coming period, noting that the negative targets begin at 48.27 and extend to 47.41 then 46.00.

It is important to note that surpassing 49.05 then 49.66 levels will stop the expected decline and push the price to achieve gains on the short term basis, to head towards 51.00 initially.