Crude Oil (WTI) (G6) Intraday: bullish bias above 57.20.

Pivot: 57.20

Our preference: long positions above 57.20 with targets at 58.50 & 59.05 in extension.

Alternative scenario: below 57.20 look for further downside with 56.75 & 56.40 as targets.

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

Supports and resistances:

59.60

59.05

58.50

57.80 Last

57.20

56.75

56.40