We see WTI Crude Oil potentially moving higher if there is some progress on trade talks between the US and China and also potential unrest in the Middle East. However, we would not want to see prices fall below the support level at $50.49 as this could lead to further downside as oil has been dropped recently predominantly due to fears surrounding growth of the global economy. Our near term target is for oil prices to reach $55.6 before continuing their upward momentum towards $60.