Tanalys

Crude Oil (NYMEX) (Q4) Intraday: bullish bias above 103.5.

Pivot: 103.5

Our preference: Long positions above 103.5 with targets @ 105.2 105.55 in extension.

Alternative scenario: Below 103.5 look for further downside with 102.55 101.9 as targets.

Comment: The RSI broke above a declining trend line.

Supports and resistances:

106.1

105.55

105.2

105.01 Last

103.5

102.55

101.9

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