(G19) Consolidating Gains *RES 4:.........>

WTI TECHS: (G19) Consolidating Gains

*RES 4: $72.29 - High Oct 17 

*RES 3: $63.18 - 200-dma 

*RES 2: $54.77 - High Dec 4 

*RES 1: $53.31 - High Jan 11 

*PRICE: $51.94 @ 6:00 GMT Jan 17 

*SUP 1: $48.27 - 21-dma 

*SUP 2: $42.36 - Dec 24 low 

*SUP 3: $42.05 - June 21, 2017 (continuation chart) 

*SUP 4: $39.26 - Aug 3, 2016 (continuation chart) 

WTI futures look to be consolidating gains above the $50 level ahead of another

leg higher. Bulls target the Jan 11 high at $53.31, above which would open the

Dec 4 high at $54.77 ahead of the 200-dma at $63.18. Bears need to break below

$50 to stabilise the outlook and target a break of the 21-dma at $48.27, below

which brings the Dec 24 low at $42.36 back into focus.