Crude Oil - Technical Analysis: Wednesday, 05/07/2017 06:58 GMT

Crude oil price continues to rise gradually and attempted to surpass 47.00 barrier yesterday, to continue the domination of the bullish trend on the intraday and short term trades, waiting to head towards our next target at 48.50.

The inverted head and shoulders' pattern still valid, while the price needs to settle above 45.45 to guarantee continuing the expected bullish trend.