CRUDE OIL: We continue to hold our bullish bias on Crude Oil as it looks to extend its offensive in the new week. This development leaves the commodity targeting the 96.15 level on ending its present price consolidation. A violation of here will turn attention to the 97.00 level. Further out, resistance resides at the 98.00 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 94.67 level where a breach will call for a run at the 93.63 level. Further down, support comes in at the 91.50 level and then the 90.30 level. All in all, Crude Oil remains biased to the upside in the medium term.
