Tanalys

Crude Oil (NYMEX) (May 14) Intraday: bullish bias above 99.

Pivot: 99

Our preference: Long positions above 99 with targets @ 100.3 101 in extension.

Alternative scenario: Below 99 look for further downside with 98.3 97.15 as targets.

Comment: a support base at 99 has formed and has allowed for a temporary stabilisation.

Supports and resistances:

102.2

101

100.3

99.34 Last

99

98.3

97.15

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