Crude Oil (WTI) (G3) Intraday: bullish bias above 79.50.
Pivot:
79.50
Our preference:
Long positions above 79.50 with targets at 81.20 & 82.00 in extension.
Alternative scenario:
Below 79.50 look for further downside with 78.70 & 78.00 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.