Oil-June settlement- has stabilized above 48.50 where 88.6% exists, while ADX shows increase in bulls’ power although RSI resides near 70.00.
We will ignore the signals on RSI due to stability above 48.05 to witness upside move, targeting 50.00 and 50.89 respectively.
Support: : 48.65 – 48.05 – 47.00
Resistance: : 49.65 – 50.00 – 50.90
Direction: Bullish