(V20) Off The Midweek Highs

• RES 4: $46.84 - High Mar 6
• RES 3: $45.00 - Round number resistance
• RES 2: $44.40 - Low Mar 2
• RES 1: $43.78 - High Aug 26 and the intraday bull trigger
• PRICE: $43.02 @ 07:00 BST Aug 28
• SUP 1: $41.46 - Low Aug 21 and key near term key support
• SUP 2: $39.89 - Low Aug 3
• SUP 3: $39.00 - Low Jul 10 and 30 and a reversal trigger
• SUP 4: $37.89 - Low Jun 29

WTI futures have pulled back from highs earlier this week. On Wednesday, futures probed key resistance at $43.68, Aug 5 high and the key bull trigger. A clear break is still needed to confirm a resumption of the underlying uptrend and this would open $45.00 initially. On the downside, key near-term support has been defined at $41.46, Aug 21 low. A move through this support would highlight a bearish threat instead.