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V19) Trading above trendline resistance...>

WTI TECHS
WTI TECHS: V19) Trading above trendline resistance
*RES 4: $58.86 - High Jul 31
*RES 3: $58.05 - High Aug 1
*RES 2: $57.13/40 - High Aug 21, High Aug 13 and key resistance
*RES 1: $56.08/75 - 50-day EMA / High Aug 28
*PRICE: $55.48 @ 07:02 BST Aug 29
*SUP 1: $55.26 - Former trendline resistance now support drawn off the Jul 15
high
*SUP 2: $53.69 - Low Aug 27
*SUP 3: $52.96 - Low Aug 26
*SUP 4: $51.84 - Low Aug 8
WTI gains this week have resulted in prices trading back above trendline
resistance today at $55.26, 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 $56.08. 

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