Crude Oil (WTI) (K5) Intraday: bullish bias above 49.5.
Pivot: 49.5
Our preference: Long positions above 49.5 with targets @ 52.5 & 53.5 in extension.
Alternative scenario: Below 49.5 look for further downside with 48.2 & 47 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
