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(N20) Holding Above Trendline Support.....>

WTI TECHS
WTI TECHS: (N20) Holding Above Trendline Support
*RES 4: $41.88 - Low Mar 6
*RES 3: $40.11 - 50.0% retracement of the Jan - Apr sell-off
*RES 2: $40.00 - Psychological round number
*RES 1: $38.18 - High Jun 3
*PRICE: $37.37 @ 06:47 BST Jun 5
*SUP 1: $36.71/34.81 - Trendline support drawn off the Apr 29 low / High May 26
*SUP 2: $32.36 - Low May 29
*SUP 3: $30.72 - Low May 22 and key support
*SUP 4: $27.98 - High May 6 and former breakout level
WTI futures are consolidating. The current bull run remains intact. Price has
this week traded above $37.64, Mar 9 high and a gap low on the daily chart. This
reinforces the underlying bullish theme and attention turns to the psychological
$40.00 level. Futures are also holding above trendline support drawn off the Mar
29 low. The trendline intersects at $36.71 and represents an initial important
support. Bullish!

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