Buying interest seen in WTI crude after France's air strike but struggling at previous support 41.75

French warplanes strike Islamic State targets in Syria, the strike against the Islamic State (ISIS) following a series of coordinated attacks in Paris on Friday that killed more than 150 people.

French fighter jets mostly targeted the Islamic State's stronghold in Raqqa.

WTI crude oil futures (CL!1) extended losses from last week's close at 40.74 to 40.58, but that was the time when bulls became alert to push the prices higher to 41.71 (our last week's crucial support area).

The commodity struggling to break this resistance level decisively to form a new short term bull trend.

On NYME, crude oil futures for delivery in December rose 0.39% to $40.90 a barrel.

Although the daily technicals suggests a short term buy indications as the RSI oscillator signaling divergence to the slumping prices (currently RSI 14 trending at 37.9564), while %K crossover on slow stochastic below 20 alarms buying pressures (currently %D line at 8.8888 & %K at 17.1990).

Thus, overall even though we see a short term bullish sentiments in this commodity we are only bullish above 43.26. A decisive breach above may have an intermediate bull run otherwise we continue to carry bearish stance on this commodity.