CRUDE OIL – With the commodity continuing to retain its recovery threats to close higher on Wednesday, more strength is expected in the days ahead. On the downside, support resides at the 47.00 level where a break will expose the 46.50 level. A cut through here will set the stage for a run at the 46.00 level. Further down, support resides at the 45.50 level. On the upside, resistance resides at the 48.00 level. Further out, resistance comes in at the 48.50 level. A break above here will aim at the 49.00 level and then the 49.50 level followed by the 50.00 level. All in all, CRUDE OIL remains biased to the upside on correction

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