(F19) False Break Below $50? *RES 4:......>

WTI TECHS: (F19) False Break Below $50?

*RES 4: $72.29 - High Oct 17 

*RES 3: $64.77 - 200-dma 

*RES 2: $56.00 - Down trendline resistance 

*RES 1: $54.90 - Low Nov 13 

*PRICE: $51.53 @ 06:34 GMT 

*SUP 1: $50.00 - Support 

*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) 

WTI futures broke below the key $50 level yesterday but closed back above it

suggesting a potential false break. Bulls look to close the week above $52 to

target the next level of resistance which comes in at $54.90 marking the Nov 13

low. A break above here would open down trendline resistance. On the downside, a

close below $50 would reignite bearish momentum and signal another down leg

towards the Aug 2017 lows on the continuation chart.