End of day analysis for Crude oil 04-01-2019

Crude oil price achieved more gains today and tested 49.00 barrier, to show some bearish bias now on its way to test 47.00 level that was breached previously, noting that it is important to monitor the price behavior according to this level, as closing above it will keep the bullish bias valid for the upcoming period to head towards 51.46 mainly, while breaking it and holding below it again will press the price to decline again and target 40.00 areas on the near term basis.