Crude Oil (WTI) (Z5) Intraday: bullish bias above 59.75.

Pivot: 59.75

Our preference: long positions above 59.75 with targets at 60.80 & 61.10 in extension.

Alternative scenario: below 59.75 look for further downside with 59.30 & 58.80 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:

61.40

61.10

60.80

59.84 Last

59.75

59.30

58.80