US EIA crude inventories data reported negative data for marketon Wednesday, crude stocks rose by 3.1 million barrels to 461 million last week as refineries declined its production and idled capacity. Also china returns for trading after a long weekend holiday is likely to bring some volatility in commodities. EIA also reported that total crude oil domestic production reached 9.17 million barrels a day, up by 76000 barrels from a week earlier and Output for the lower 48 states was up by 58000 adding more pressure over oil prices. Market still seems to be very much under pressure and moving under supply glut with issues between Russia, Middle east and Iran's sansctions. Technically continues to trade below its strong resistance level of $50, if prices surges above this level we expect strong technical buying coming ahead. The support level at $45 and resistance at $50.