Crude Oil - Technical Analysis: Thursday, 20/07/2017 08:12 GMT

Crude oil price succeeded to reach our first target at 47.33 and settles there, and the effect of the inverted head and shoulders' pattern still valid, waiting to surpass the mentioned level to head towards 48.50 as a next target.

Overall, the bullish trend will remain dominant in the coming period unless breaking 46.10 then 45.32 levels and settling below them, as breaking these levels will push the price to return to decline on the short term basis.