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(M20) Bearish Threat *RES 4: $18.26 -.....>

WTI TECHS
WTI TECHS: (M20) Bearish Threat
*RES 4: $18.26 - High Apr 22 and key near-term resistance
*RES 3: $16.98 - High Apr 27
*RES 2: $13.18 - Intraday high
*RES 1: $11.88 - Apr 27 low
*PRICE: $11.06 @ 08:23 BST Apr 28
*SUP 1: $10.26 - Low Apr 22
*SUP 2: $9.28 - 76.4% retracement of the Apr 21 - 23 rally
*SUP 3: $6.50 - Low Apr 21and key support
*SUP 4: $5.53 - 2.236 projection of Jan 8 - Feb 4 sell-off from Apr 9 high
WTI remains weaker this morning. Price continues to retrace the recent recovery
between Apr 22 - 23. Futures have traded below the 61.8% retracement at $10.99.
A continued move lower would expose the 76.4% level at $9.28 and also highlight
the increasing likelihood we will see a retest of the Apr 21 low of $6.50. A
break of the latter would confirm a resumption of this year's downtrend. Initial
resistance is at $11.88 and $13.18.
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