Tanalys

Crude Oil (Sep 13) intraday: key ST resistance at 107.7

Pivot: 107.70

Our preference: SHORT positions below 107.7 with 105 103.75 in sight.

Alternative scenario: The upside penetration of 107.7 will call for 108.8 110.7.

Comment: the RSI is bearish and calls for further downside.

Trend: ST Consolidation; MT Bullish

Key levels Comment

110.7** Fib projection

108.8*** Previous high

107.7** Intraday pivot point

105.92 Last

105** Intraday support

103.75** Fib retracement (61.8%)

102.7** Intraday support

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