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(F19) Downtrend Broken But Upward.........>

WTI TECHS
WTI TECHS: (F19) Downtrend Broken But Upward Momentum Lacking 
*RES 4: $72.29 - High Oct 17 
*RES 3: $64.72 - 200-dma 
*RES 2: $56.00 - Down trendline resistance 
*RES 1: $54.90 - Low Nov 13 
*PRICE: $53.320 @ 06:24 GMT 
*SUP 1: $49.41 - Low Nov 29 
*SUP 2: $49.10 - Low Oct 6, 2017 (continuation chart) 
*SUP 3: $45.58 - Low Aug 31, 2017 (continuation chart) 
*SUP 4: $42.05 - June 21, 2017 (continuation chart) 
After breaking above the short-term downtrend yesterday the rally in WTI futures
has stalled, returning the near-term outlook neutral. The Nov 13 low at $54.90
needs to be taken out in order for bulls to target the next down trendline
resistance level at $56. On the downside, a close below Friday's low at $49.41
would reignite bearish momentum and signal another down leg towards the Aug 2017
lows on the continuation chart.

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