Crude Oil (WTI) (N5) Intraday: bullish bias above 62.85.

Pivot: 62.85

Our preference: long positions above 62.85 with targets at 63.85 & 64.20 in extension.

Alternative scenario: below 62.85 look for further downside with 62.30 & 61.70 as targets.

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

Supports and resistances:

64.60

64.20

63.85

63.19 Last

62.85

62.30

61.70