(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: $56.47/57.47 - 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.