Oil declined after achieving corrective actions around 50.00 psychological, while RSI started to show negative divergence.
We need more confirmation for the bearishness with a stable move below 50.00, while 50.90 is the new key for oil.
A break below 48.90 will affirm, while coming below 48.00 will accelerate although moving averages are still positive.
Support: : 48.90 – 48.05 – 47.40
Resistance: : 50.00 – 50.90 – 51.85
Direction: Bearish correction