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(U19) Medium-term Trendline Finally.......>

WTI TECHS
WTI TECHS: (U19) Medium-term Trendline Finally Breached
*RES 4: $60.94 - High Jul 11 and key resistance
*RES 3: $58.82 - High Jul 31
*RES 2: $56.05/31 - High Aug 2/ Bullish pivot point
*RES 1: $53.70 - Former trendline support
*PRICE: $53.51 @ 07:31 BST Aug 7
*SUP 1: $50.60 - Low Jun 5/ 23.6% retracement of Oct 3 2018 decline
*SUP 2: $49.71 - Low Jan 9
*SUP 3: $48.08 - 76.4% retracement of December 2018 low to April 2019 high
*SUP 4: $45.83 - Long-term trendline support
WTI has broken below the medium-term trendline support drawn from the December
2018 low turning the outlook decidedly bearish. Bears will now initially target
the June lows of $50.60. To reinstate a neutral outlook, the low of July 18 at
$54.72 needs to be overcome with the bullish pivot point coming in higher at
$56.31.

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