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(K20) Fresh Trend Lows Printed *RES 4:....>

WTI TECHS
WTI TECHS: (K20) Fresh Trend Lows Printed
*RES 4: $28.36 - High Apr 9
*RES 3: $24.74 - High Apr 13
*RES 2: $23.08 - High Apr 14
*RES 1: $20.89 - High Apr 15
*PRICE: $18.21 @ 09:08 BST Apr 17
*SUP 1: $18.00 - Round number support
*SUP 2: $16.39 2.618 projection of Jan 8 - Feb 4 sell-off from Feb 20 high
*SUP 3: $15.00 - Round number support
*SUP 4: $14.24 2.764 projection of Jan 8 - Feb 4 sell-off from Feb 20 high
WTI futures are under pressure once again and the contract has traded to fresh
2020 lows. A bearish theme has again resurfaced following recent gains to a high
of $29.13 on Apr 3 that failed to deliver any follow through. This is weighing
on the contract. The move to new lows paves the way for weakness towards $16.39
next, a Fibonacci projection. Initial resistance is now defined at $20.89, Apr
15 high.

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