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(K20) Bears Hold On *RES 4: $29.13 -......>

WTI TECHS
WTI TECHS: (K20) Bears Hold On
*RES 4: $29.13 - High Apr 3 and bull trigger
*RES 3: $28.36 - High Apr 9
*RES 2: $24.74 - High Apr 13
*RES 1: $23.08 - High Apr 14
*PRICE: $19.58 @ 06:46 BST Apr 17
*SUP 1: $19.20 - Low Apr 15 and bear trigger
*SUP 2: $19.00 - Round number support
*SUP 3: $18.12 2.50 projection of Jan 8 - Feb 4 sell-off from Feb 20 high
*SUP 4: $16.39 2.618 projection of Jan 8 - Feb 4 sell-off from Feb 20 high
WTI futures remain volatile and a bearish threat dominates. Recent gains to a
high of $29.13 on Apr 3 failed to deliver any follow through and this is
weighing on the contract. Yesterday, futures traded below $19.27, Mar 30 low and
although we have yet to see a strong downside extension, the move lower confirms
a resumption of this year's downtrend and opens $18.12, a Fibonacci projection.
Initial resistance is at $23.08, Apr 14 high.

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