WTI Crude Oil Intra-day Analysis 16 May 2016

Upside Prevails

Our Pivot: 45.73

Our Preference: Buy above 46.60 with strict stop loss of 45.73 and profit target at 47.34 and 47.70.

Alternate Scenario: Downward penetration of 45.73 will call for 45.10.

NOTE: Supported by a rising trend line.

Chart with Supports and Resistances: