Crude Oil (WTI) (Q3) Intraday: the bias remains bullish.
Pivot:
70.50
Our preference:
Long positions above 70.50 with targets at 71.35 & 71.75 in extension.
Alternative scenario:
Below 70.50 look for further downside with 70.10 & 69.70 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.