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WTI TECHS: (U19) Pushing against trendline resistance
*RES 4: $60.17 - High Jul 16
*RES 3: $58.82 - High Jul 31
*RES 2: $57.47 - High Aug 13 and key resistance
*RES 1: $56.29/43 - Trendline resistance drawn off the Jul 15 high / High Aug 13
*PRICE: $56.30 @ 06:54 BST Aug 20
*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 started off the week on a firmer note and is pushing against trendline
resistance at $56.29 and $56.43, the 50-day EMA. The trendline is drawn off the
Jul 15 high and a break of this resistance zone would add a positive note to the
recovery that has been in place since Aug 7. Scope would exist for a climb
towards the $57.47 key resistance, the Aug 13 high. On the downside, support for
today lies $53.47, a break would again refocus attention on $50.52.