Crude oil awaits more rise
Target: 70.00
Risk: 63.20
Technical reasons:
Crude oil price move inside the ascending channel supports achieving more rises, and the price consolidation above 23.6% Fibonacci correction level pushes the price to resume the bullish trend in the coming period.
The next target is located at 65.00 then further to 70.00, while breaking 63.20 will push the price for more intraday bearish correction.
Risk: 63.20
Technical reasons:
Crude oil price move inside the ascending channel supports achieving more rises, and the price consolidation above 23.6% Fibonacci correction level pushes the price to resume the bullish trend in the coming period.
The next target is located at 65.00 then further to 70.00, while breaking 63.20 will push the price for more intraday bearish correction.
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