(N20) Fresh High Print *RES 4: $45.40 -...>

WTI TECHS: (N20) Fresh High Print

*RES 4: $45.40 - 61.8% retracement of the Jan - Apr sell-off

*RES 3: $43.94 - Low Mar 2

*RES 2: $41.88 - Low Mar 6 and the gap low on the daily chart

*RES 1: $40.49 - High Jun 19

*PRICE: $39.45 @ 06:43 BST Jun 22

*SUP 1: $37.11 - Low Jun 18

*SUP 2: $34.36/34.10 - 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 continued to grind higher last week and did manage a fresh high

print Friday of $40.49. The break of $40.44, Jun 8 high does confirm a

resumption of the uptrend however a convincing break is required to completely

remove recent bearish concerns following the recent break of trendline support

drawn off the Apr 22 low. An extension higher would open $41.88, low Mar 6 and a

gap high on the daily chart. Key support lies at $34.36, Jun 15 low.