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WTI TECHS
WTI TECHS: (G20) Bull Trend Intact
*RES 4: $62.66 - High May 16
*RES 3: $61.58 - High May 22
*RES 2: $61.24 - 1.618 projection of Nov 20 - Nov 27 rally from Nov 29 low
*RES 1: $61.11 - High Dec 18
*PRICE: $60.88 @ 06:45 GMT Dec 19
*SUP 1: $59.19 - Low Dec 13
*SUP 2: $58.02 - Low Dec 11 and initial key support
*SUP 3: $57.62 - Low Dec 6
*SUP 4: $56.21 - Low Dec 4
WTI extended its rally marginally once again yesterday confirming a resumption
of the underlying uptrend. Importantly, futures have this week traded above
$60.37, Sep 16 high marking the break of a significant resistance and further
reinforcing the bullish theme. Attention turns to $62.66, May 16 high. The
initial objective is $61.17, a Fibonacci projection. On the downside, support
lies at $59.19, Dec 13 low ahead of the key $58.02 support, low Dec 11.

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