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(F19) Recovery Above $55 Fails To Stick...>

WTI TECHS
WTI TECHS: (F19) Recovery Above $55 Fails To Stick
*RES 4: $72.29 - High Oct 17 
*RES 3: $70.00 - Resistance area 
*RES 2: $64.91 - 200-dma 
*RES 1: $60.00 - Down trendline resistance 
*PRICE: $54.39 @ 05:55 GMT 
*SUP 1: $51.00 - Up trendline support from Jan 2016 lows 
*SUP 3: $49.10 - Low Oct 6, 2017 (continuation chart) 
*SUP 4: $45.58 - Low Aug 31 (continuation chart) 
*SUP 4: $42.05 - June 21 (continuation chart) 
WTI futures broke back above the $55 level yesterday but the recovery was short
lived as bears managed to close back below this level. The focus remains on up
trendline support from the 2016 lows at $51, below which the Oct 6 low at $49.10
on the continuation chart would come into play. Bulls need to break above
yesterday's high at $55.86 to allow a run at the $60 level which marks down
trendline resistance. Above here would open the 200-dma, currently at $64.91.

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