Tanalys

Crude Oil (Aug 13) intraday: further upside.

Pivot: 98.45

Our preference: LONG positions above 98.45 with 99.45 100 as next targets.

Alternative scenario: The downside penetration of 98.45 will call for a slide towards 97.6 96.6.

Comment: the immediate trend remains up and the momentum is strong.

Trend: ST Bullish; MT Bullish

Key levels Comment

100.6* Intraday resistance

100** Intraday resistance

99.45** Intraday resistance

99.13 Last

98.45** Intraday pivot point

97.6* Intraday support

96.6*** Intraday support

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