Crude Oil (WTI) (K5) Intraday: the bias remains bullish.
Pivot:
69.40
Our preference:
Long positions above 69.40 with targets at 70.20 & 70.55 in extension.
Alternative scenario:
Below 69.40 look for further downside with 69.05 & 68.65 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.