Crude Oil (WTI) (H5) Intraday: bullish bias above 72.60.
Pivot:
72.60
Our preference:
Long positions above 72.60 with targets at 73.65 & 74.20 in extension.
Alternative scenario:
Below 72.60 look for further downside with 72.10 & 71.65 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.