(V18) Sep 4 High Providing Strong.........>

WTI TECHS: (V18) Sep 4 High Providing Strong Resistance

*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: $69.85 @ 06:34 GMT 

*SUP 1: $66.86 - Low Sep 7 

*SUP 2: $65.98 - Low Aug 22 

*SUP 3: $63.89 - Low Aug 16 

*SUP 4: $63.83 - 200-DMA 

WTI has slipped back below $70 after yesterday's rally above $71 was unable to

hold. The bigger picture remains bullish but a break above the Sep 4 high of

$71.40 is needed to cement a bullish breakout. On the downside, any close below

the Sep 7 low of $66.86 would shift the outlook back to neutral, while a close

below the Aug 16 lows would suggest a topping pattern is in play, opening up the

key 200-dma.