Crude Oil (WTI) (J4) Intraday: bullish bias above 77.90.
Pivot:
77.90
Our preference:
Long positions above 77.90 with targets at 78.90 & 79.35 in extension.
Alternative scenario:
Below 77.90 look for further downside with 77.35 & 76.85 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.