Crude Oil (WTI) (Q3) Intraday: bullish bias above 69.60.
Pivot:
69.60
Our preference:
Long positions above 69.60 with targets at 71.00 & 71.80 in extension.
Alternative scenario:
Below 69.60 look for further downside with 68.90 & 68.40 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.