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WTI TECHS
WTI TECHS: (N20) Focus Is On Key Support
*RES 4: $37.64 - High Mar 9 and gap low
*RES 3: $37.33 - High Mar 11
*RES 2: $35.18 - High Apr 9 and key resistance
*RES 1: $34.81 - High May 26
*PRICE: $33.15 @ 06:40 BST May 29
*SUP 1: $32.53/30.72 - Trendline support drawn off the Apr 29 low / Low May 22
*SUP 2: $27.98 - High May 6 and former breakout level
*SUP 3: $27.53 - Low May 15
*SUP 4: $25.25 - Low May 13
WTI futures are consolidating. A bullish outlook is maintained however with
Tuesday's high print of $34.81 reinforcing the underlying positive outlook. The
move signals a resumption of the current uptrend and shifts attention to $35.18,
Apr 9 high and key resistance. Key short-term support has been defined at
$30.72, May 22 low with trendline support drawn off the Apr 29 low at $32.53
today. A break of $30.72 would reverse the trend.