(N20) Bullish Cycle Intact *RES 4:........>

WTI TECHS: (N20) Bullish Cycle Intact

*RES 4: $30.08 - 50-day EMA

*RES 3: $30.00 - Round number resistance

*RES 2: $28.34 - 61.8% retracement of the Apr 9 - 28 decline

*RES 1: $27.98 - High May 6

*PRICE: $26.04 @ 06:59 BST May 13

*SUP 1: $24.38 - Low May 7

*SUP 2: $23.38 - Low May 5 and key intraday support

*SUP 3: $20.84 - Low May 4

*SUP 4: $19.15 - Low Apr 30

WTI is unchanged and consolidating. The outlook remains bullish. Last week,

futures cleared the 20-day EMA reinforcing the current bullish theme that

follows the recovery off $17.27, Apr 28 low. A number of resistance levels have

been cleared and attention turns to $28.34 next, a Fibonacci retracement ahead

of the 50-day EMA at $30.08. The average is seen as a key resistance area.

Initial firm support is $23.38, May 5 low. $27.98 is the bull trigger.