CRUDE OIL: The commodity halted its weakness to close on a rejection candle on Tuesday. On the downside, support resides at the 48.00 level where a break will expose the 47.00 level. A cut through here will set the stage for a run at the 46.00 level. Further down, support resides at the 45.00 level. On the upside, resistance resides at the 49.00 level. Further out, resistance comes in at the 50.00 level. A break above here will aim at the 51.00 level and then the 52.00 level followed by the 53.00 level. All in all, CRUDE OIL remains biased to the downside but with caution
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