Tanalys

Crude Oil (Sep 13) intraday: the downside prevails.

Pivot: 108.90

Our preference: SHORT positions below 108.9 with targets @ 106.3 105.7.

Alternative scenario: The upside penetration of 108.9 will call for 109.5 111.1.

Comment: technically, the RSI is below its neutrality area at 50.

Trend: ST Bullish; MT Bullish

Key levels Comment

111.1* Fib projection

109.5* Fib projection

108.9* Intraday pivot point

106.72 Last

106.3** Fib retracement (50%)

105.7** Fib retracement (61.8%)

104.75** Intraday support

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