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WTI TECHS: (N19) Bearish technical........>

OIL TECHS
OIL TECHS: WTI TECHS: (N19) Bearish technical signals intact
*RES 4: $59.10 - 100-dma
*RES 3: $58.52 - 50% of Apr-May fall
*RES 2: $57.33 - Low May 23
*RES 1: $54.84 - High Jun 10
*PRICE: $51.81 @ 06:00 GMT Jun 18
*SUP 1: $50.60 - Low June 5
*SUP 2: $49.45 - 76.4% retracement of Dec-Apr rally
*SUP 3: $48.39 - High Dec 26
*SUP 4: $44.49 - L/T Trendline
WTI has been leading the way technically among the oil-based futures recently
and the contract continues to give bearish signals currently. Both momentum and
trend indicators remain in a bear mode overall reinforcing the bearish stance. A
break below the $51.70 support will put the lows at $50.60 back under pressure,
with the potential to extend the downtrend towards the $44.49 trendline.

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