Crude Oil (WTI) may rise to 82.25 - 82.60
Pivot
81.20
Our preference
Long positions above 81.20 with targets at 82.25 & 82.60 in extension.
Alternative scenario
Below 81.20 look for further downside with 80.80 & 80.35 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances
83.10
82.60
82.25
81.64 Last
81.20
80.80
80.35
81.20
Our preference
Long positions above 81.20 with targets at 82.25 & 82.60 in extension.
Alternative scenario
Below 81.20 look for further downside with 80.80 & 80.35 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances
83.10
82.60
82.25
81.64 Last
81.20
80.80
80.35
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