Crude Oil is recovering its value and positive sentiment. While the recent gains should subside, retracing to $25-$27 , the consolidation should set up the next leg to $45-$48 in light of increasing economic activity post-covid. The short term outlook is bearish, while a consolidation below $30 should give enough confidence to boost prices to $45. Thereafter likely a a range will be established between $35-$48 where oscillating indicators such as RSI and MACD should come in handy for swing traders.
