Oil declined below 48.05, influenced by the bearishness from RSI, while ADX shows decrease in bears’ power.
Meanwhile, we can’t affirm the bearishness with trading inside the ascending channel.
We will be neutral in the European session, waiting for a new signal to appear.
On the downside, coming below 47.00 will extend the bearishness.
Support: : 48.65 – 48.05 – 47.00
Resistance: : 48.05 – 48.90 – 49.65
Direction: Neutral