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(V20) Remains Below Recent Highs

WTI TECHS
  • 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: $42.56 @ 06:18 BST Aug 25
  • 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

The WTI futures 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 and open the $45.00 handle.

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