Crude Oil - Technical Analysis: Friday, 19/05/2017 05:50 GMT

Crude oil price shows clear recovery to surpass 49.66 barrier and settles above it, as the price completed forming bullish flag pattern after surpassing the minor descending channel's resistance that appears on the chart below, to head towards achieving more gains in the coming period, heading towards 51.00 that represents the first main target.

The price stability above 49.35 will keep the expected rise valid, as breaking it will put the price under the correctional bearish pressure again.