Oil failed to stabilize above 47.30 and started to edge lower, trading around SMA20 and SMA50.
RSI14 remains very weak and the same case appearing on ADX. In result, we prefer to stand aside and we will update the report in the proper time.
Support: 46.65 – 46.00 – 45.40
Resistance: 47.25 – 48.05 – 49.15
Direction: Neutral.