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

WTI TECHS: (U19) Medium-term Trendline Under Pressure

*RES 4: $60.94 - High Jul 11 and key resistance

*RES 3: $60.06 - High Jul 16

*RES 2: $58.82 - High Jul 31

*RES 1: $56.05/22 - High Aug 2/ pivotal resistance

*PRICE: $55.26 @ 08:05 BST Aug 6

*SUP 1: $53.63/59 - Major trendline support/ Low Aug 1

*SUP 2: $50.60 - Low Jun 5/ 23.6% retracement of Oct 3 2018 decline

*SUP 3: $48.08 - 76.4% retracement of December 2018 low to April 2019 high

*SUP 4: $45.95 - Long-term trendline support

WTI has remained above the medium-term trendline support drawn from the December

2018 low. This comes in today at $53.63. A break below this level would turn the

outlook decidedly bearish, and bears would initially target the June lows of

$50.60. To improve the outlook, bulls need to see a close above the pivot point

which now comes in at $56.22.