Brent oil returned above 200 SMA ($50.80), following several unsuccessful attempts to clearly break below it, with one of downticks also briefly probing below psychological $50.00 support.
Overall structure remains weak and sees risk of renewed attempts lower and final break below 200SMA and $50 support.
Daily Tenkan-sen ($51.17) limits upside attempts for now, however, room for further upticks exists.
Strong resistance zone between $52.34 and $52.63 (Fibo 38.2% of $56.62/$49.70 downleg / falling 20SMA / 16 Mar lower top) should cap extended recovery actions, before broader bears resume.
Below $50.00/$49.70 triggers, next good support lies at $49.1 (Fibo 61.8% of $43.56/$58.36).
Res: 51.17; 51.33; 51.57; 52.34
Sup: 50.80; 50.00; 49.70; 49.21
