Tanalys

Crude Oil (NYMEX) (Mar 14) Intraday: bullish bias above 96.4.

Pivot: 96.4

Our preference: Long positions above 96.4 with targets @ 98.25 99.05 in extension.

Alternative scenario: Below 96.4 look for further downside with 95.3 94.8 as targets.

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

Supports and resistances:

100.7 **

99.05 **

98.25 **

97.05 Last

96.4 **

95.3 **

94.8 **

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