Crude Oil - Technical Analysis: Thursday, 10/08/2017 04:23 GMT

Crude oil price moves around 49.50 level since yesterday, while after the recent test to 48.44 level and consolidating above it, the bullish trend remains valid for the coming period, which moves inside ascending channel that carries the price from 42.04 areas, waiting to head towards 50.42 initially.

Surpassing the mentioned level will push the price to head towards 52.00, while breaking 48.44 will stop the expected rise and push the price to decline on the intraday basis.