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(N19) Out of Bearish Territory *RES 4:....>

WTI TECHS
WTI TECHS: (N19) Out of Bearish Territory
*RES 4: $59.17 - 100-dma
*RES 3: $58.52 - 50% of Apr-May fall
*RES 2: $57.33 - Low May 23
*RES 1: $54.63 - High June 3
*PRICE: $53.22 @ 06:26 GMT Jun 7
*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
Despite moving out of bear market territory and extending the recovery through
$53, momentum indicators continue to generate negative signals. Bears look for a
return to the Jun 5 low, with a break here needed to extend the downtrend toward
major support in the $48.39 to $44.20 zone, which holds the long-term up
trendline. Rebounds above $54.63 would be needed to suggest short term
stabilisation, opening the 50% fibo & 100-dma.

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