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(N19) Topside Capped Ahead of $55 *RES....>

WTI TECHS
WTI TECHS: (N19) Topside Capped Ahead of $55
*RES 4: $59.17 - 100-dma
*RES 3: $58.52 - 50% of Apr-May fall
*RES 2: $57.33 - Low May 23
*RES 1: $54.84 - High Jun 10
*PRICE: $54.32 @ 06:26 GMT Jun 11
*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
Topside gains have so far been capped ahead of the $55 level, and keeps the
recent downtrend intact. A downside break of $50.60 brings the 76.4% retracement
of the Dec-Apr rally back into view at $49.45. Any move through here would
extend the correction towards the L/T trendline at $44.49. Bulls need to clear
$55 on a closing basis, before returning the focus to the 100-dma at $59.17.

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