Crude Oil (WTI) (J3) Intraday: bullish bias above 77.20.
Pivot:
77.20
Our preference:
Long positions above 77.20 with targets at 78.50 & 79.00 in extension.
Alternative scenario:
Below 77.20 look for further downside with 76.60 & 76.10 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.