Crude Oil (WTI) (G4) Intraday: intraday support around 71.60.
Pivot:
71.60
Our preference:
Long positions above 71.60 with targets at 72.75 & 73.25 in extension.
Alternative scenario:
Below 71.60 look for further downside with 71.10 & 70.50 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.