Oil

Crude Oil (May 13) intraday: the downside prevails.

Pivot: 89.00
Our preference: SHORT positions @ 88.68 with 86 & 84.2 in sight.
Alternative scenario: The upside penetration of 89 will call for 90.4 & 91.45.
Comment: the RSI has struck against a major resistance around 70% and is reversing down.

Crude Oil Heading Down the Barriers 88.00
WTI crude oil declined by 89.00 levels, reacted negatively to the breakthrough failed on Wednesday. During European trading, crude oil prices have retreated back to 88.00, and is trading at just USD $ 88.18 / bbl.

Northern Oil has completed the corrective wave and a few hours ago again resumed its decline was punched a number of strong levels of support, among them the 88.00 figure, bears seem to again become -86.00 month low figure, and is now waiting for its entry point to sell.

i place pending sell order @ 87.94
my stop loss of the day @ 88.33
half take profit @ 87.55
and half @ 87.33

Crude Oil (May 13) intraday: up turn.

Pivot: 85.70
Our preference: LONG positions @ 86.35 with 87.33 & 87.75 in sight.
Alternative scenario: The downside breakout of 85.7 will open the way to 84.2 & 83.
Comment: the RSI calls for a rebound.

today i like to buy oil on dip @ 86.30 and 86.05
my stop loss of the day 85.87
half take profit @ 86.47
and half @ 86.67

Oil opened the sale, the price has shown a clear retreat from the oblique medium level of resistance on the hourly chart the bearish engulfing formation took place, stochastics showed a sell signal and the RSI turned south, profit is put on the local minimum 85.77, Stop - above the 88.00 figure.

Now picture of oil looks like a wide corridor ... from the so-called lower classes have made a false breakdown of support and unfolded .. now considering purchasing intentions with the schedule that the price will rise about 89 dollars to resist .. and now there is a rollback on which you can sit in the this movement ...

Pivot levels today:
R3: 91.26
R2: 90.13
R1: 88.27
PP: 87.14
S1: 85.27
S2: 84.12
S3: 82.26
Comment: Price now is above the daily pivot level, and there is a downword trend @ 1H time frame.
Forecast: If price can break the downword trend, there will be more rising to 89.79, but if it bounces, then, price may fall to 82.24.

Crude Oil (May 13) intraday: under pressure.

Pivot: 89.00
Our preference: SHORT positions below 89 with 86.3 & 85.6 as next targets.
Alternative scenario: The upside penetration of 89 will call for a rebound towards 90.2 & 91.25.
Comment: the upward potential is likely to be limited by the resistance at 89.