Tanalys

Crude Oil (NYMEX) (May 14) Intraday: continuation of the rebound.

Pivot: 98.3

Our preference: Long positions above 98.3 with targets @ 100.3 101 in extension.

Alternative scenario: Below 98.3 look for further downside with 97.15 96.15 as targets.

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

Supports and resistances:

102.2

101

100.3

98.86 Last

98.3

97.15

96.15

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