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Crude Oil Tests Key Resistance Level – Analysis – 07-05-2025

Crude oil prices have risen in recent intraday trading, reaching a critical resistance level at $59.65. This price point serves as a potential turning point for the commodity, coinciding with resistance from the EMA50 and the bearish trend line on the short-term chart.

The emergence of negative signals on the Relative Strength Index (RSI), which has entered overbought territory relative to price movement, suggests the possibility of a negative divergence. This reinforces the importance of the $59.65 resistance level as a key area to watch for potential reversal.

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