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.
For now i don't think it would break 51.6 it might go down further then we could see Long term Bullish trend