oil forecast intraday:
Pivot (invalidation): 55.85
Our preference
Long positions above 55.85 with targets at 56.60 & 57.00 in extension.
Alternative scenario
Below 55.85 look for further downside with 55.15 & 54.85 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Pivot (invalidation): 55.85
Our preference
Long positions above 55.85 with targets at 56.60 & 57.00 in extension.
Alternative scenario
Below 55.85 look for further downside with 55.15 & 54.85 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.