Crude oil pulls back as it seeks to relieve overbought pressure (Analysis – 12-01-2026).

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Crude oil prices experienced choppy movements during the latest intraday session as they consolidated gains from previous advances. The pullback was accompanied by efforts to ease pronounced overbought conditions on the relative strength indicators, particularly with the emergence of negative signals suggesting a temporary pause in momentum.

This occurs amid continued dynamic support from trading above the EMA50, along with the dominance of a short-term minor bullish wave, providing an opportunity to regain bullish momentum and potentially resume gains in the near term.

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