Consistency Above the MA-21 Can Maintain Potential Oil Recovery

Referring to the 4-hour chart, the bias remains bullish especially if price able to break the consistency above 45.85 area, where there are also the MA-21 in the vicinity. Potentially promote the sustainability movement bullish testing 46.95 area, before targeting 48.20 area.

On the reverse side, the MA-200 at around 44.80 will act as immediate support. Clear break below that area would probably dampen the bullish impulse as well as bringing the price to neutral zone in the short term, with the possibility of testing the 43.55 area. The next support can be found on the MA-100 at around 42.30.