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(M20) Heavy As The Market Remains Below...>

WTI TECHS
WTI TECHS: (M20) Heavy As The Market Remains Below $20.00
*RES 4: $24.92 - High Apr 16
*RES 3: $22.58 - Intraday high
*RES 2: $20.00 - Psychological round number
*RES 1: $17.71 - Intraday reaction high
*PRICE: $16.17 @ 12:40 BST Apr 21
*SUP 1: $11.79 - Intraday low
*SUP 2: $10.00 - Psychological round number
*SUP 3: $8.79 - 1.764 wave projection of Jan 8 - Feb 4 decline from Apr 9 high
*SUP 4: $5.53 - 2.000 wave projection of Jan 8 - Feb 4 decline from Apr 9 high
WTI futures remain volatile having suffered sharp losses earlier today, trading
down to a low of $11.79. From a technical perspective, trend reading remains
clearly bearish and the direction of least resistance is still south. The focus
is on a test of the psychological $10.00 level, should $11.79 give way.
Clearance of $10.00 would open $8.79, a Fibonacci projection. In terms of trying
to identify resistance, $20.00 is seen as the first important level. Heavy!

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