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(V19) Back above trendline resistance.....>

WTI TECHS
WTI TECHS: (V19) Back above trendline resistance
*RES 4: $58.86 - High Jul 31
*RES 3: $57.40 - High Aug 13 and key resistance
*RES 2: $57.13 - High Aug 21
*RES 1: $56.09 - 50-day EMA
*PRICE: $55.59 @ 07:19 BST Aug 28
*SUP 1: $53.69 - Low Aug 27
*SUP 2: $52.96 - Low Aug 26
*SUP 3: $51.84 - Low Aug 8
*SUP 4: $50.50 - Aug 7 low and key bear trigger
WTI gains this week have resulted in prices trading back above trendline
resistance at $55.43, drawn off the Jul 15 high. An extension higher would open
$57.40 which is the resistance that ultimately needs to be cleared to reinstate
a bullish theme. Recently, price action has failed to overcome the resistance
area offered by the 50-day EMA which currently intersects at $56.09. This keeps
alive a bearish threat with key support at $52.96. 

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