(V18) Below $66 Spells Trouble *RES 4:....>

WTI TECHS: (V18) Below $66 Spells Trouble

*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: $68.12 @ 06:03 GMT 

*SUP 1: $65.98 - Low Aug 22 

*SUP 2: $63.89 - Low Aug 16 

*SUP 3: $63.68 - 200-DMA 

*SUP 4: $62.60 - Low June 18 

The failure of the bulls to cling onto yesterday's gains has shifted the

short-term outlook slightly bearish once again. While the bigger picture remains

bullish, a close below the Aug 22 high of $65.98 would suggest that downside

momentum is building and the Aug 16 low would come into play. Bulls need to

overcome $69 to return the focus to the upside and the Sep 4 high of $71.40.