Tanalys

Crude Oil (NYMEX) (H5) Intraday: key resistance at 49.1.

Pivot: 49.1

Our preference: Short positions below 49.1 with targets @ 45.6 44.75 in extension.

Alternative scenario: Above 49.1 look for further upside with 50.8 51.3 as targets.

Comment: As long as 49.1 is resistance, likely decline to 45.6.

Supports and resistances:

51.3

50.8

49.1

47.55 Last

45.6

44.75

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