US Oil faces strong resistance around $48.60, break above targets $49.40/$50.45

• Major resistance- $48.60 (200 4H MA)
   
• US Oil has broken minor resistance $48.20 (55 4 H EMA) and jumped till $48.56 at the time of writing. It is currently trading around $48.45.
   
• The US oil should break above $48.60 for further bullishness. Any break above $48.60 will take the commodity to immediate resistance $49.45 (61.8% retracement of $51.64 and $45.89) /$50.45.
   
• On the lower side, minor support is around $48.10 (4 H Kijun-Sen) and break below targets  $47.47 (21 4H MA)/$46.86 (61.8% retracement of $45.81 and $48.56).
   
• Short term trend reversal only below $45.80 level.

It is good to buy above $48.60 with SL around $48 for the TP of $49.45/$50.40