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WTI TECHS: (M19) Bears Have The Edge Below $65
*RES 4: $70.00 - High Oct 22
*RES 3: $68.13/36 - 76.4% Retracement/High Oct 26
*RES 2: $66.60 - High Apr 23
*RES 1: $64.75 - High Apr 30
*PRICE: $63.44 @ 06:15 GMT May 2
*SUP 1: $62.28/61.92 - Low April 26/Low Apr 5
*SUP 2: $60.80/60.57 - 200-dma/55-dma
*SUP 3: $58.44 - Low Mar 25
*SUP 4: $55.31 - Low Mar 8
WTI futures failed to rally in line with other oil benchmarks with the focus
remaining on the downside following the failure to overcome the $65 level on
Tuesday. Bears focus remains on the April 26/5 lows at $62.28/61.92. Below here
brings the 200/55-dmas into play which cross at $60.80/60.57. To reignite the
uptrend bulls need to take out Tuesday's high at $64.75 which would return the
focus to the ytd high at $60.60.