(N20) Trendline Support Remains Intact....>

WTI TECHS: (N20) Trendline Support Remains Intact

*RES 4: $45.50 - 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: $40.44 - High Jun 8

*PRICE: $38.40 @ 06:41 BST Jun 9

*SUP 1: $37.58/05 - Trendline support drawn off the Apr 29 low / Low Jun 5

*SUP 2: $35.88 - Low Jun 3

*SUP 3: $32.36 - Low May 29

*SUP 4: $30.72 - Low May 22 and key support

The WTI current bull run remains intact despite yesterday's pullback. Price last

week traded above $37.64, Mar 9 high and a gap low on the daily chart. This

reinforced the underlying bullish theme. Furthermore, futures yesterday traded

above the psychological $40.00 level. The focus is on a climb towards $41.88,

Mar 6 low and a gap high on the chart. Futures are holding above trendline

support drawn off the Mar 29 low. The trendline intersects at $37.58.