Tanalys

Crude Oil (NYMEX) (G5) Intraday: bullish bias above 52.7.

Pivot: 52.7

Our preference: Long positions above 52.7 with targets @ 54.6 55.1 in extension.

Alternative scenario: Below 52.7 look for further downside with 50.85 50 as targets.

Comment: A support base at 52.7 has formed and has allowed for a temporary stabilisation.

Supports and resistances:

55.8

55.1

54.6

53.59 Last

52.7

50.85

50

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