(V18) Triangle Breakout Looking Likely....>

WTI TECHS: (V18) Triangle Breakout Looking Likely

*RES 4: $79.00 - Measured move target from triangle breakout 

*RES 3: $71.63 - High May 22 

*RES 2: $71.29 - High June 29 

*RES 1: $71.05 - High July 10 

*PRICE: $69.66 @ 04:30 GMT 

*SUP 1: $68.00 - Pivot area

*SUP 2: $63.89 - Low August 16 

*SUP 3: $63.14 - 200 DMA 

*SUP 4: $62.60 - Low June 18 

With WTI breaking above its July 30 highs yesterday the focus turns to the July

10 high at $71.05. Just above this level are the June 29 and May 22 highs, and a

break above these would add fuel to the rally and allow bulls to target $79.00

which is the measured move from the breakout of the four-month long triangle

pattern. Bears need to close back below $68.00 to shift the short-term outlook

neutral, a break below the August 21 low is needed to shift the outlook bearish.