(M20) Bullish Theme Remains In Place......>

WTI TECHS: (M20) Bullish Theme Remains In Place

*RES 4: $24.92 - Apr 20 high

*RES 3: $22.58 - High Apr 21

*RES 2: $21.64 - Low Mar 18

*RES 1: $20.48/61 - High May 1 / 20-day EMA

*PRICE: $18.40 @ 06:50 BST May 4

*SUP 1: $15.45 - Low Apr

*SUP 2: $12.67 - Low Apr 29

*SUP 3: $10.07 - Low Apr 28 and key support

*SUP 4: $9.28 - 76.4% retracement of the Apr 21 - 23 rally

WTI was firmer last week although price is off the recent high. The technical

picture has improved and a short-term bullish theme reinforced following last

week's recovery off $10.07, Apr 28 low. Furthermore, futures have cleared

resistance at $18.26, Apr 23 high reinforcing a bullish theme. The focus is on

the 20-day EMA at $20.61, where a break would expose $21.64, Mar 18 low and

$22.58, Apr 21 high. Initial support is at f $15.45.