Crude Oil - Technical Analysis: Thursday, 14/07/2017 03:50 GMT

Crude oil price achieved good gains yesterday to settle around 46.10 level again, noticing that the price draws bullish pattern represented by the inverted head and shoulders explained in the chart below, waiting to surpass 46.10 to confirm completing this pattern and rally to achieve more gains on the short term basis.

Thus, we are expecting the continuation of the bullish trend domination on the coming trades conditioned by the price stability above 45.32 level, noting that the expected targets begin at 47.33 then 48.50.