Tanalys

Crude Oil (NYMEX) (Jun 14) Intraday: bullish bias above 100.3.

Pivot: 100.3

Our preference: Long positions above 100.3 with targets @ 102.4 102.95 in extension.

Alternative scenario: Below 100.3 look for further downside with 99.2 98.2 as targets.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:

103.85

102.95

102.4

100.64 Last

100.3

99.2

98.2

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