(V18) Higher Low Established *RES 4:......>

WTI TECHS: (V18) Higher Low Established

*RES 4: $71.63 - High May 22 

*RES 3: $70.94 - High July 11 

*RES 2: $69.19 - High July 30 

*RES 1: $68.86 - High August 7 

*PRICE: $68.17 @ 04:22 GMT 

*SUP 1: $66.49 - High August 21 

*SUP 2: $63.89 - Low August 16 

*SUP 3: $62.95 - 200 DMA 

*SUP 4: $62.60 - Low June 18 

Despite breaking below medium-term uptrend support earlier this month WTI

appears to have established another higher low for the cycle, which returns the

focus to the upside. Bulls now need to break above the August 7 high of $68.86

to target the July 30 highs. On the downside, bears need to see a break below

the August 21 low to shift the outlook back to neutral, but the August 16 low

would have to give way to suggest further downside.