Tanalys

Crude Oil (Aug 13) intraday: key ST resistance at 97.4

Pivot: 97.40

Our preference: SHORT positions below 97.4 with 95.35 94.4 in sight.

Alternative scenario: The upside breakout of 97.4 will open the way to 98 99.2.

Comment: as long as 97.4 is resistance, likely decline to 95.35.

Trend: ST Bullish; MT Bullish

Key levels Comment

99.2** Intraday resistance

98** Intraday resistance

97.4*** Intraday pivot point

96.79 Last

95.35** Intraday support

94.4** Fib retracement (61.8%)

92.6** Intraday support

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