Tanalys

Crude Oil (NYMEX) (May 14) Intraday: bullish bias above 103.85.

Pivot: 103.85

Our preference: Long positions above 103.85 with targets @ 105.25 105.7 in extension.

Alternative scenario: Below 103.85 look for further downside with 102.95 102 as targets.

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

Supports and resistances:

106.25

105.7

105.25

104.35 Last

103.85

102.95

102

Copyright 1999 – 2014 TRADING CENTRAL

Exit mobile version