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WTI TECHS: (V18) Back Below $70
*RES 4: $80.00 - Resistance
*RES 3: $79.00 - Measured move target from triangle breakout
*RES 2: $71.63 - High May 22
*RES 1: $71.40 - High Sep 4
*PRICE: $68.79 @ 05:08 GMT
*SUP 1: $66.86 - Low Sep 7
*SUP 2: $65.98 - Low Aug 22
*SUP 3: $63.89 - Low Aug 16
*SUP 4: $63.88 - 200-DMA
The failure to hold onto $70 has seen the Sep 7 lows at $66.86 come back into
focus on the downside, with a break below here needed to target the Aug 16 lows
and the 200-dma. Below here would confirm a bearish reversal pattern. Bulls need
to recover the Sep 4 high of $71.40 in order to cement a bullish breakout and
target the measured move level at $79.00.