Oil managed to hit below 49.40 in signs of more drop yet to come
We advised last week that below 49.40 another drop wave may hit the market toward 47.50-70 zone
Above 49.75 market may add more advance where another resistance laying at 51.00-20 zone
| Support | Resistance | |
| Level 1 | 49.00 | 49.75 |
| Level 2 | 47.50-70 | 51.00-20 |
| Level 3 | 46.40 | 52.20 |