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(N20) Trades Above Key Resistance *RES....>

WTI TECHS
WTI TECHS: (N20) Trades Above Key Resistance
*RES 4: $31.04 - High Apr 16
*RES 3: $30.95 - 76.4% retracement of the Apr 9 - 28 sell-off
*RES 2: $30.00 - Round number resistance
*RES 1: $29.41/83 - High Apr 20 / 50-day EMA
*PRICE: $28.17 @ 06:35 BST May 15
*SUP 1: $25.56 - Low May 14
*SUP 2: $24.38 - Low May 7 and key intraday support
*SUP 3: $23.38 - Low May 5
*SUP 4: $20.84 - Low May 4
WTI futures edged higher yesterday and traded through key resistance at $27.98,
May 6 high. The break confirms a resumption of the uptrend that has been in
place since Apr 28 and paves the way for a climb towards $29.41, Apr 20 high and
$29.83, the 50-day EMA. The latter is a key resistance area and if cleared
convincingly, would signal scope for an extension higher towards $31.04
initially. Initial firm support is $24.38, May 7 low.

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