Wednesday, August 21, 2013

Crude Oil‏ (Sep 13) MT: bullish bias above 97.5.

Pivot: 97.50

Our Preference: Bullish as long as 97.5 is support with targets at 109 and 114.7 in extension.

Alternative Scenario: Below 97.5 eye a drop towards 91.3 and 85.6 in extension.

Comment: the RSI is mixed and calls for caution. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

By at

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