Tanalys

Crude Oil (Aug 13) intraday: bullish bias above 105

Pivot: 105.00

Our preference: LONG positions above 105 with 107.4 108.6 in sight.

Alternative scenario: The downside penetration of 105 will call for a slide towards 104 102.

Comment: the RSI is above its neutrality area at 50%.

Trend: ST Bullish; MT Bullish

Key levels Comment

110* Fib projection

108.6* Fib projection

107.4** Previous high

106.47 Last

105*** Intraday pivot point

104** Intraday support

102** Intraday support

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