Yesterday’s extreme defined technical objective at 47.30 almost done after breaching the support line of the correctional channel. Coverage from Linear Regression in addition to the aforesaid breakout argue us to remain bearish on Crude Oil over intraday basis. Another breakout below 47.35 zones will ease the path towards 45.00 psychological. To manage our risk, we won’t enter the market until oil takes out 47.30 once again as there is a probability of re-testing the broken support line from the underside before resuming the bearish wave.