Short Term Critical Levels To Be Observed Closely For Crude Oil

48.60, my short term critical level to be observed closely. I believe that crude oil price may rallies to 48.60 as the market formed a bullish butterfly pattern in short term. Once the level is broken, it may lead the price to 53.00. On the other hand, i would see the crude oil price retrace to 42.00 if the market unable to break the stated critical level.

Cheers and Happy Trading :)