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(N19) Mixed Outlook *RES 4: $59.18 -......>

WTI TECHS
WTI TECHS: (N19) Mixed Outlook
*RES 4: $59.18 - 100-dma
*RES 3: $58.52 - 50% of Apr-May fall
*RES 2: $57.33 - Low May 23
*RES 1: $54.84 - Intraday high
*PRICE: $54.32 @ 06:02 GMT Jun 10
*SUP 1: $50.60 - Low June 5
*SUP 2: $48.39 - High Dec 26
*SUP 3: $44.49 - L/T Trendline
*SUP 4: $44.20 - Low Dec 26
Although WTI was well supported by the softer greenback Friday, failure to clear
the May 31 high is a cause for concern for bulls, keeping the downside argument
very much intact. A fall back through the $50.60 level would be a re-entry into
a bear market, opening the Dec26 low at $48.39 and the longer-term trendline at
$44.49. Rebounds above $54.63 would be needed to suggest short term
stabilisation, opening the 50% fibo & 100-dma.

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