Tanalys

Crude Oil (May 13) intraday: watch 86

Pivot: 89.00

Our preference: SHORT positions below 89 with 86 84.2 in sight.

Alternative scenario: The upside penetration of 89 will call for a rebound towards 90.4 91.8.

Comment: investors have to remain cautious since these levels may trigger profit taking.

Trend: ST Bearish; MT Range

Key levels Comment

91.8** Intraday resistance

90.4** Fib retracement (50%)

89** Intraday pivot point

88.88 Last

86** Previous low

84.2** Intraday support

83** Intraday support

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