Tanalys

Crude Oil (NYMEX) (Z4) Intraday: bullish bias above 81.1.

Pivot: 81.1

Our preference: Long positions above 81.1 with targets @ 83.2 83.7 in extension.

Alternative scenario: Below 81.1 look for further downside with 80.3 79.5 as targets.

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

Supports and resistances:

85

83.7

83.2

81.93 Last

81.1

80.3

79.5

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