Oil trading in range of 47-49.5 waiting for breakage

Breaking Alert!!!

Libya's Port is Shut and Force Majeure is Declared by Government.

Libyan port shut is expected to reduce 250,000 per day of Crude Oil.

Oil jumps to 48.70 on this

Technically, Oil is having good recovery, but in order to confirm it and start Bullish Reversal, closing has to be above 49.60