Rally Still Possible Continues, Oil Need Consistency Above 47.70

Referring to the 4-hour chart, the bias remains bullish especially if price able to maintain consistency over 47.70 area. Potentially promote the sustainability movement bullish retest 48.60 area, before targeting 49.50 area.

On the reverse side, immediate support can be found at the 46.65 area. With stochastic and RSI which looks a little overbought, break below that area could possibly trigger a bearish correction scenario towards 45.85 area or even the MA-200 at around 45.15.