(Q20) Bearish Risk *RES 4: $44.22 - Low...>

WTI TECHS: (Q20) Bearish Risk

*RES 4: $44.22 - Low Mar 2

*RES 3: $42.17 - Low Mar 6 and the gap low on the daily chart

*RES 2: $41.63 - High Jun 23 and key resistance

*RES 1: $40.54 - High Jun 24

*PRICE: $39.67 @ 06:57 BST Jul 1

*SUP 1: $37.08 - Low Jun 25

*SUP 2: $35.92/34.66 - 50-day EMA / Low Jun 15

*SUP 3: $32.76 - Low May 29

*SUP 4: $31.63 - Low May 28

WTI futures stalled at $41.63 on Jun 23. The subsequent sharp pullback

highlights a failure to extend gains following the recent break of former key

resistance at $40.69, Jun 8 high. The near-term outlook remains bearish despite

this week's recovery and attention remains on key support at $34.66, Jun 15 low.

A break would signal a more convincing reversal. On the upside, clearance of

$41.63 is needed to ease the developing bearish threat.