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

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.