Oil inclined sharply above 50.89, which opens the door up towards 113% Fibonacci at 54.15.
ADX is positive despite the overbought signs on RSI. Stability above 50 and 50.89 keeps the bullishness available, while clearing 51.70 will be a good buy signal.
Support: 50.85 – 50.00 – 49.46
Resistance: 51.70 – 52.65 – 53.25
Direction: Bullish