Crude Oil (WTI) (U3) Intraday: bullish bias above 77.80.
Pivot:
77.80
Our preference:
Long positions above 77.80 with targets at 80.00 & 80.50 in extension.
Alternative scenario:
Below 77.80 look for further downside with 77.25 & 76.50 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.