Considering harmony levels from October 2015 to April 2016 we should hold till 52 level for short.
Comment:
It took exact retracement from support of 45.80, now 50-50.40 are the resistance areas, 1 hour needs to break for long, 1 hour still in correction, i must say 15 minute chart is very important here, it is bullish right now that's why it is going up. if 15 min break by tomorrow then we could see further short on daily, otherwise 1 hour will break very soon and Oil would shoot up to 58-60. i would suggest to wait for breakout on either 1 hour or 15 min for taking positions. 1 hour for long and 15 min for short.
Comment:
Closed target achieved