(V18) Bears In Control Short Term .......>

WTI TECHS: (V18) Bears In Control Short Term  

*RES 4: $90.00 - Resistance 

*RES 3: $80.00 - Resistance 

*RES 2: $79.00 - Measured move target from triangle breakout 

*RES 1: $71.63 - High May 22 

*PRICE: $68.61 @ 05:23 GMT 

*SUP 1: $68.00 - Pivot area 

*SUP 2: $63.89 - Low August 16 

*SUP 3: $63.50 - 200-DMA 

*SUP 4: $62.60 - Low June 18 

The bears are in control from a short-term perspective following the failure of

the Oct-18 WTI contract to overcome its May 22 high on Tuesday and the

subsequent drop back below $69. The pivot area at $68 will be the next test for

bears as they attempt to target the Aug 16 low and shift the medium-term outlook

bearish below the 200-dma. Above $70 would return the focus to the upside with a

close above $71.63 needed to reignite bullish momentum.