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(N20) Clears The 50-day EMA *RES 4:.......>

WTI TECHS
WTI TECHS: (N20) Clears The 50-day EMA
*RES 4: $33.80 - High Apr 14
*RES 3: $32.59 - High Apr 15
*RES 2: $31.04 - High Apr 16
*RES 1: $30.95 - 76.4% retracement of the Apr 9 - 28 sell-off
*PRICE: $30.73 @ 06:32 BST May 18
*SUP 1: $27.98 - High May 6 and former breakout level
*SUP 2: $27.53 - Low May 15
*SUP 3: $25.56 - Low May 14
*SUP 4: $24.38 - Low May 7 and key support
WTI futures continue to strengthen and have also started the week on a firm note
extending the current uptrend. Price action last week cleared former resistance
at $27.98, May 6 high and has today cleared the 50-day EMA. The average
intersects at $29.82 and represents a key resistance area. An ability to remain
above the average would reinforce bullish conditions and pave the way for a
climb towards $33.80, Apr 14 high. $27.98 marks initial support.

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