(F20) Bull-Bear Tug-Of-War *RES 4:........>

WTI TECHS: (F20) Bull-Bear Tug-Of-War

*RES 4: $58.90 - 76.4% retracement of Sep 16 - Oct 3 decline

*RES 3: $58.64 - High Sep 23

*RES 2: $58.17 - High Nov 18 and the bull trigger

*RES 1: $57.37 - High Nov 20

*PRICE: $56.84 @ 06:43 GMT Nov 21

*SUP 1: $54.85 - Low Nov 20

*SUP 2: $54.43 - 50.0% retracement of Oct 3 - Nov 18 rally

*SUP 3: $53.84 - Low Oct 31 and key support

*SUP 4: $52.85 - Low Oct 21

WTI traded lower Tuesday resulting in a break of trendline support at $56.08.

The trendline is drawn off the Oct 10 low. However, yesterday's strong rally

neutralised Tuesday's bearish break. For now, the focus remains on the potential

for a move lower however, prices need to trade below yesterday's low of $54.85

to signal a resumption of bearish behaviour. On the upside, key resistance and

the bull trigger is at $58.17.