Oil trades near SMA20, which intersects with the support line seen on the provided graph.
Trading between 46.90 and 44.40 keeps the directions unclear, as the 4-hour closing was achieved within the moving average's range.
A break below 44.40 will be a negative sign, but risk versus reward ratio is inappropriate now. Thus, we will stand aside.
Support: : 45.00 – 44.40 – 43.40
Resistance: : 46.00 – 46.90 – 47.50
Direction: Neutral