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(N19) Resuming The Downtrend *RES 4:......>

WTI TECHS
WTI TECHS: (N19) Resuming The Downtrend
*RES 4: $59.15 - 100-dma
*RES 3: $58.52 - 50% of Apr-May fall
*RES 2: $57.33 - Low May 23
*RES 1: $54.84 - High Jun 10
*PRICE: $52.23 @ 06:18 GMT Jun 12
*SUP 1: $50.60 - Low June 5
*SUP 2: $49.45 - 76.4% retracement of Dec-Apr rally
*SUP 3: $48.39 - High Dec 26
*SUP 4: $44.49 - L/T Trendline
WTI futures are starting to generate renewed bearish signals, suggesting that a
corrective top has been established at the $54.84 high from June 10. Short-term
momentum indicators are turning lower again. The break of near-term support at
$52.32 puts the focus back on the $50.60 recent low. While a downside break of
$50.60 brings the 76.4% retracement of the Dec-Apr rally back into view at
$49.45.

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