Tanalys

Crude Oil (Aug 13) intraday: bullish bias above 102

Pivot: 102.00

Our preference: LONG positions above 102 with 105.3 106 as next targets.

Alternative scenario: The downside penetration of 102 will call for a slide towards 100.5 99.8.

Comment: the break above 102 is a positive signal that has opened a path to 105.3.

Trend: ST Ltd upside; MT Bullish

Key levels Comment

106.5** Fib projection

106** Fib projection

105.3** Fib projection

102.84 Last

102*** Intraday pivot point

100.5** Intraday support

99.8** Rising trendline

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