(U20) Uptrend Resumes *RES 4: $48.97 -....>

WTI TECHS: (U20) Uptrend Resumes

*RES 4: $48.97 - High Mar 3

*RES 3: $46.76 - High Mar 6

*RES 2: $44.38 - Low Mar 2

*RES 1: $42.49 - Low Mar 6 and the gap high on the daily chart

*PRICE: $41.83 @ 10:16 BST Jul 21

*SUP 1: $39.97 - Low Jul 20

*SUP 2: $38.77 - Low Jul 10

*SUP 3: $38.13/37.32 - 50-day EMA / Low Jun 25 and the initial bear trigger

*SUP 4: $35.01- Low Jun 15 and key support

WTI futures are trading higher too this morning and have breached key resistance

at $41.74, Jun 23 high. The move through this resistance removes any recent

bearish concerns and confirms a resumption of the uptrend that has been in place

since the reversal on Apr 22. This sets the scene for an extension higher

towards $44.49, Mar 6 low and a gap low on the daily chart and $44.38 further

out, Mar 2 low. Support has been defined at $39.97, yesterday's low.