(N20) Consolidating But Remains Bullish...>

WTI TECHS: (N20) Consolidating But Remains Bullish

*RES 4: $29.91 - 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: $25.93 @ 06:43 BST May 14

*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 still consolidating. The outlook though 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 $29.91. Initial firm support is $23.38, May 5 low.

$27.98 is the bull trigger.