(Q20) Short-Term Reversal? *RES 4:........>

WTI TECHS: (Q20) Short-Term Reversal?

*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: $37.78 @ 06:43 BST Jun 25

*SUP 1: $36.67 - Low Jun 16

*SUP 2: $35.37/34.66 - 50-day EMA / Low Jun 15

*SUP 3: $32.76 - Low May 29

*SUP 4: $31.63 - Low May 28

WTI futures stalled at Tuesday high of $41.63. The sharp pullback highlights a

failure to extend gains following the recent break of former key resistance at

$40.69, Jun 8 high. The outlook is bearish and attention turns to key support at

$34.66, Jun 15 low. A break of this level is required to signal a more

convincing reversal. On the upside, clearance of $41.63 is required to ease the

developing bearish threat.