WTI crude declined sharply from the high of $48.14 made yesterday and made a low of $461.3. It is currently trading around $46.57.
On the lower side, near term support is around $46 and any break below will drag the commodity down till $45.43 (Jul 24th 2017 low) /$45 (Jul 13th 2017 low)/$43.68 (Jul 10th 2017 low).
The near term resistance is around $47 (cloud top) and any break above will take the crude oil t o next level till $47.80 (21- day )/$48.15/$48.80.
It is good to sell on rallies around $47 with SL around $48 for the TP of $46.20/$45.