(Q20) Trading Sideways *RES 4: $44.22 -...>

WTI TECHS: (Q20) Trading Sideways

*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: $41.08 - High Jul 6 and 8

*PRICE: $4.50 @ 06:39 BST Jul 15

*SUP 1: $38.54 - Low Jul 10

*SUP 2: $37.26/08 - 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 continue to trade sideways. Activity also 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 yet again. $37.08,

Jun 25 low marks the next bear trigger. Clearance of $41.63 resumes the uptrend.