(U19) Key resistance at $57.47 *RES 4:....>

WTI TECHS: (U19) Key resistance at $57.47

*RES 4: $61.02 - High Jul 11 and key resistance

*RES 3: $60.17 - High Jul 16

*RES 2: $58.82 - High Jul 31

*RES 1: $56.65/57.47 - Trendline resistance off the Jul 15 high / High Aug 13

*PRICE: $55.26 @ 07:15 BST Aug 16

*SUP 1: $53.77 - Low Aug 15

*SUP 2: $51.94 - Low Aug 8

*SUP 3: $50.52 - Aug 7 low and key bear trigger

*SUP 4: $50.00 - Round number support

WTI has found support for now, following the selling pressure over the past

48-hrs. Resistance this week has been defined at 57.47, a level now viewed as an

important pivot point. While strong gains since the Aug 7 low have neutralised

the recent bearish tone, clearance of 57.47 is required to reinforce a bullish

outlook. This would open 58.82 initially. On the downside, a move below

yesterday's 53.77 low would instead reopen the key support at 50.52.