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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: $56.47/57.47 - Trendline resistance off the Jul 15 high / High Aug 13
*PRICE: $55.37 @ 06:20 BST Aug 19
*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 some support for now as it recovers off the the Aug 15 low of
$53.77. Resistance this week is located 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 $53.77
would instead reopen the key support at $50.52.