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(M20) Watch Initial Resistance At.........>

WTI TECHS
WTI TECHS: (M20) Watch Initial Resistance At $16.18
*RES 4: $19.76 - 1.236 projection of $6.50 - $14.19 reaction from $10.26 low
*RES 3: $17.95 - 1.00 projection of $6.50 - $14.19 reaction from $10.26 low
*RES 2: $17.00 - Round number resistance
*RES 1: $16.18 - High Apr 22
*PRICE: $15.31 @ 06:50 BST Apr 23
*SUP 1: $13.35 - Intraday low
*SUP 2: $10.26 - Low Apr 22
*SUP 3: $10.00 - Psychological round number
*SUP 4: $6.50 - Low Apr 21
WTI short-term conditions appears somewhat positive for now following
yesterday's recovery to a high of $16.18. Price is firmer again this morning and
the focus is on $16.18 where a break would open potential for stronger intraday
gains towards $17.00 and $17.95. The latter is a Fibonacci projection. On the
downside, a key intraday support has been defined at $13.35, today's intraday
low. A break would be seen as a bearish intraday development.

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