Tanalys

Crude Oil (NYMEX) (H5) Intraday: bullish bias above 52.1.

Pivot: 52.1

Our preference: Long positions above 52.1 with targets @ 54 55.55 in extension.

Alternative scenario: Below 52.1 look for further downside with 51 49.65 as targets.

Comment: A support base at 52.1 has formed and has allowed for a temporary stabilisation.

Supports and resistances:

57

55.55

54

53.22 Last

52.1

51

49.65

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