Tanalys

Crude Oil (NYMEX) (May 14) Intraday: bullish bias above 102.95.

Pivot: 102.95

Our preference: Long positions above 102.95 with targets @ 105.7 107.4 in extension.

Alternative scenario: Below 102.95 look for further downside with 102 100.75 as targets.

Comment: The immediate trend remains up and the momentum is strong.

Supports and resistances:

109.35

107.4

105.7

104.38 Last

102.95

102

100.75

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