Tanalys

Crude Oil (Aug 13) intraday: bullish bias above 99.8

Pivot: 99.80

Our preference: LONG positions above 99.8 with 102.1 102.9 in sight.

Alternative scenario: The downside breakout of 99.8 will open the way to 99.2 98.35.

Comment: the price is supported by a rising trend line.

Trend: ST Range; MT Bullish

Key levels Comment

103.5** Fib projection

102.9** Fib projection

102.1** Fib projection

101.99 Last

99.8*** Intraday pivot point

99.2** Intraday support

98.35** Intraday support

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