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(V19) Shooting star reversal *RES 4:......>

WTI TECHS
WTI TECHS: (V19) Shooting star reversal
*RES 4: $60.17 - High Jul 16
*RES 3: $58.82 - High Jul 31
*RES 2: $57.40 - High Aug 13 and key resistance
*RES 1: $57.13 - High Aug 21
*PRICE: $55.56 @ 07:23 BST Aug 23
*SUP 1: $53.77 - Low Aug 15
*SUP 2: $51.84 - Low Aug 8
*SUP 3: $50.50 - Aug 7 low and key bear trigger
*SUP 4: $50.00 - Round number support
WTI breached trendline resistance Wednesday at 56.29, drawn off the Jul 15 high.
However bulls failed to hold onto the days high resulting in a close near the
low of the day. In candle terms, Wednesday was a shooting star reversal and
signals an end to the recent correction. This is reinforced by the failure at
the trendline and an inability to tackle resistance at 57.40. Attention is on
support at 53.77 while a break of 57.40 is needed to reinstate a bullish theme.

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