Crude Oil - Technical Analysis: Monday, 29/05/2017 08:03 GMT

Crude oil price showed clear rise on last Friday to approach from the important resistance 50.17, showing bearish rebound signals now that indicates the attempt to resume the correctional bearish trend, on its way to test 49.00 level initially.

Overall, the price stability below 50.17 keeps the negative forecast valid, and breaking 49.00 will push the price towards 48.06 then 47.13, while surpassing 50.17 will lead oil price for more recovery and achieve positive targets that reach to 52.00 initially.