(G19) Hold Above $50 A Bullish Sign.......>

WTI TECHS: (G19) Hold Above $50 A Bullish Sign

*RES 4: $72.29 - High Oct 17 

*RES 3: $63.18 - 200-dma 

*RES 2: $54.77 - High Dec 4 

*RES 1: $52.28 - 50-dma 

*PRICE: $51.22 @ 5:54 GMT Jan 15

*SUP 1: $48.10 - 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) 

The pullback in WTI futures found some support ahead of the $50 level today

which puts the focus back on the 50-dma which now comes in at $52.28. Above here

would open the Dec 4 high at $54.77, above which would target 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 $48.10, below which brings the Dec 24 low at $42.36 back

into focus.