Crude Oil - Technical Analysis: Wednesday, 31/05/2017 05:56 GMT

Crude oil price touched our first waited target at 49.00 and shows bullish rebound from there, to head towards new test to 50.14, reminding you that this level will stop the current bearish wave and push the price to recover on the short term basis.

On the other hand, breaking 49.00 will push the price towards 48.06 then 47.13 levels.