Crude Oil (WTI) (Z4) Intraday: intraday support around 70.60.
Pivot:
70.60
Our preference:
Long positions above 70.60 with targets at 72.00 & 72.70 in extension.
Alternative scenario:
Below 70.60 look for further downside with 70.00 & 69.40 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.