Tanalys

Crude Oil (NYMEX) (Mar 14) MT: the downside prevails.

Pivot: 100.75

Our preference: Short positions below 100.75 with targets @ 91.25 85.7 in extension.

Alternative scenario: Above 100.75 look for further upside with 104.3 112.25 as targets.

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

Supports and resistances:

112.25

104.3

100.75

98.07 Last

91.25

85.7

77.5

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