WTI oil holds in red on Friday and returned below $50 handle and also broke back into weekly cloud (cloud top lies at $49.87) with fresh acceleration lower after US jobs data, denting next important support at $49.47 (200SMA). Near-term focus is turning lower after recovery attempts was capped by south-turning 10SMA and fresh acceleration lower posted new 3-week lows. Close below $50 will be seen as negative signal, while weekly close below 200SMA would generate stronger bearish signal. Immediate targets lay at $49.20 (Fibo 50% of $45.57/$52.84 ascend) and $48.98 (rising 55SMA), which guard next pivot at $48.35 (Fibo 61.8%). Broken 20SMA ($50.38) is expected to limit corrective upticks.
Res: 50.00; 50.38; 50.80; 51.02
Sup: 49.39; 49.20; 48.98; 48.35
