Tanalys

Crude Oil (WTI) (M5) Intraday: bullish bias above 56.4.

Pivot: 56.4

Our preference: Long positions above 56.4 with targets @ 58.8 60 in extension.

Alternative scenario: Below 56.4 look for further downside with 55 53.8 as targets.

Comment: A support base at 56.4 has formed and has allowed for a temporary stabilisation.

Supports and resistances:

60.8

60

58.8

57.46 Last

56.4

55

53.8

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