(16 October 2020)Crude Oil (WTI) The bias remains bullish.

Pivot
 (invalidation): 40.50
Our preference
Long positions above 40.50 with targets at 41.05 & 41.30 in extension.
Alternative scenario
Below 40.50 look for further downside with 40.10 & 39.70 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be
limited.

(By Swissquote TRADING CENTRAL)