(V20) Remains Below Recent Highs

• RES 4: $46.84 - High Mar 6
• RES 3: $45.00 - Round number resistance
• RES 2: $44.40 - Low Mar 2
• RES 1: $43.68 - High Aug 5 and the bull trigger
• PRICE: $42.38 @ 06:48 BST Aug 24
• SUP 1: $41.46 - Low Aug 21
• SUP 2: $39.89 - Low Aug 3
• SUP 3: $39.00 - Low Jul 10 and 30
• SUP 4: $37.89 - Low Jun 29

WTI futures traded lower again Friday but did recover off the day low. The uptrend remains intact, however a bearish threat appears to be developing. Weakness below Friday's low of $41.46, would signal scope for a deeper pullback and open $39.89, Aug 3 low and potentially the major support at $39.00, Jul 30 low. The key resistance to watch remains $43.68, Aug 5 high. A break would confirm a resumption of the uptrend.