Crude Oil - Technical Analysis: Wednesday, 09/08/2017 04:38 GMT

Crude oil price returns to retreat calmly and settles around 49.00, while the price still consolidating above the important support 48.44, to keep the bullish trend valid until now, waiting to surpass the important resistance at 49.50 to confirm the continuation of the rise that its main targets located at 50.42 then 52.00.

Breaking 48.44 will push the price to decline on the intraday basis to test 47.22 level before rising again.