Look forward to the US NFP, Oil Tend Sideways

Crude oil prices are likely to move tend to be flat in the Asian trading session as investors await Friday's crucial jobs data from the US and also reports the number of active drilling rigs. Results of the 2nd data can clarify the direction of the "black gold" next. But overall, concerns about a flood of supply will still overshadow sentiment in the global oil market.

On the technical side, referring of the 4-hour chart, the relative bias remains bullish as long as price able to stay above the MA-21. Which will keep the opportunity for re-testing 47.35 area or even 48.40 area. The success of such resistant pass through 2 will pave the way for prices to approach the level of the peak July 29 at 49.50 area. On the reverse side, the MA-21 at around 46.15 will act as immediate support. Clear break below that area would likely bring the price to neutral zone in the short term, with the potential to test 45.40 area. MA-200 at around 44.65 will be the next support.