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(U19) Testing trendline resistance *RES...>

WTI TECHS
WTI TECHS: (U19) Testing trendline resistance
*RES 4: $61.02 - High Jul 11
*RES 3: $60.17 - High Jul 16
*RES 2: $58.82 - High Jul 31
*RES 1: $57.01/47 - Trendline resistance drawn off the Jul 15 high / High Aug 13
*PRICE: $56.50 @ 07:50 BST Aug 14
*SUP 1: $54.21 - Low Aug 13
*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 failed to follow through on last weeks break of the Jun low of $50.91 and
rallied sharply yesterday through resistance at the pivotal $55.00 level. This
has neutralised the recent bearish tone. The contract has arrived at trendline
resistance drawn off the Jul 15 high which intersects at $57.01 today. A clear
break of the line would reinforce a bullish tone, and pave the way for gains
towards $58.82, the Jul 31 high. Support lies at $54.21.

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