For mid-term outlook, crude oil remains in bearish bias. A pull-back move has occurred to within resistance area at 46.03-47.45. I plan to look for bearish signal confirmation within the resistance area with 45.16 as target and 43.74 in extension.

Be careful if the market managed to break above 47.45 because it will turn the mid-term bias to bullish and possibly will push oil up to 48.32-49.74.

Plan: Sell within 46.03-47.45; target at 45.16 or 43.74

Oil Chart:

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