Crude oil price shows more bullish bias to approach 80.00 barrier, while stochastic shows clear overbought signals now, to support the chances of bouncing bearishly and resume the correctional bearish trend, which its targets begin by testing 78.05 level again, reminding you that breaking it will push the price to 76.75 followed by 75.90 levels.
On the other hand, we should note that breaching 80.65 will stop the negative scenario and push the price to regain the main bullish trend again.
📊 QUICK FUNDAMENTAL LOOK
Oil prices rose in European trade on Friday with US crude recovering for another session off four-week lows.
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