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(U19) Remaining Below Breached............>

WTI TECHS
WTI TECHS: (U19) Remaining Below Breached Trendline
*RES 4: $60.94 - High Jul 11 and key resistance
*RES 3: $58.82 - High Jul 31
*RES 2: $56.05 - High Aug 2
*RES 1: $53.85 - Former trendline support
*PRICE: $52.65 @ 07:34 BST Aug 9
*SUP 1: $50.60/52 - 23.6% retracement of Oct 3 2018 decline/ Aug 7 low
*SUP 2: $49.71 - Low Jan 9
*SUP 3: $48.08 - 76.4% retracement of December 2018 low to April 2019 high
*SUP 4: $45.85 - Long-term trendline support
Similar to Brent, WTI traded in a smaller-than-recent range yesterday. The key
to resuming the downtrend will be to break below Wednesday's low of $50.52. The
outlook will remain decidedly bearish as long as we stay below the former
trendline which now comes in at $53.85. To pause the sell-off further, we need
to see a move above this level.

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