(Q20) Key Resistance Intact *RES 4:.......>

WTI TECHS: (Q20) Key Resistance Intact

*RES 4: $42.17 - Low Mar 6 and the gap low on the daily chart

*RES 3: $41.63 - High Jun 23 and key resistance

*RES 2: $41.08 - High Jul 6 and 8

*RES 1: $40.77 - High Jul 10

*PRICE: $39.35 @ 06:31 BST Jul 14

*SUP 1: $38.54 - Low Jul 10

*SUP 2: $37.13/08 - 50-day EMA / Low Jun 25 and the initial bear trigger

*SUP 3: $34.66- Low Jun 15 and key support

*SUP 4: $32.76 - Low May 29

WTI futures traded lower yesterday and activity remains below $41.63, Jun 23

high. We have recently highlighted the existence of a bearish threat following

the pullback off $41.63 between Jun 23 - 25. This represented a failure to

extend gains beyond $40.69, Jun 8 high. The pullback late last week is an

initial signal that sentiment may be turning bearish again. $37.08, Jun 25 low

marks the next bear trigger. Clearance of $41.63 would resume the uptrend.