Price closed on MA10 today, which is 0.46. As we can see the 0.485 resistance level has been tested 4 times consecutively and it fails to breakout from there. Hence, the possible reason for the retracement. Oil counters are not easy to trade, therefore please manage your risks well. If the price falls and closes below 0.45 it'll be risky.
R: 0.485, 0.5(52WH) S: 0.45, 0.44
DISCLAIMER THIS IS NOT AN INVESTMENT ADVICE, TRADE AT YOUR RISK & OPPORTUNITY !!!