(N20) Caught Between The Directional......>

WTI TECHS: (N20) Caught Between The Directional Parameters

*RES 4: $43.94 - Low Mar 2

*RES 3: $41.88 - Low Mar 6 and the gap low on the daily chart

*RES 2: $40.44 - High Jun 8 and bull trigger

*RES 1: $39.91 - High Jun 10

*PRICE: $39.21 @ 06:50 BST Jun 19

*SUP 1: $36.38 - Low Jun 16

*SUP 2: $34.36/33.87 - Low Jun 15 / 50-day EMA

*SUP 3: $31.14 - Low May 28

*SUP 4: $30.72 - Low May 22 and key support

WTI futures continue to grind higher. Despite this week's gains, a near-term

bearish risk remains present. Price last week cleared trendline support drawn

off the Apr 22 low. This highlights a potential bearish threat and a S/T

reversal. The key directional parameters are $34.36 on the downside, Jun 15 low

and $40.44 on the upside, Jun 8 high. A break of support would confirm a top

whereas clearance of $40.41 would confirm a resumption of the uptrend.