US crude oil price settled higher in latest intraday trading after reaching our price target of $70.000, bouncing off it lower amid negative signals from the Stochastic after reaching overbought levels in a contradiction to the price’s action, thus forming a negative divergence, which could boost the negative scenario.

 

It comes amid the dominance of the upward correctional trend as the price moves alongside the trend line, with ongoing positive pressure due to trading above the 50-candle SMA.