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WTI TECHS: (Q19) Double bottom............>

OIL TECHS
OIL TECHS: WTI TECHS: (Q19) Double bottom confirmed, outlook remains bullish
*RES 4: $59.80 - May 30 high
*RES 3: $59.19/28 - Double bottom projection and 100-dma
*RES 2: $58.50 - 50% of Apr 23-Jun 5 sell-off
*RES 1: $58.22 - Jun 24 high
*PRICE: $57.78 @ 07:28 BST Jun 25
*SUP 1: $56.66 - Low Jun 21
*SUP 2: $54.99 - High Jun 10
*SUP 3: $53.50 - Low Jun 19
*SUP 4: $50.79 - Low June 5
WTI rallied sharply higher last Thursday clearing the important former
resistance at 54.99, the Jun. 10 high. This confirmed a double bottom reversal
on the daily chart and with momentum studies pointing north, the outlook for
bulls continued to look promising. Potential is for a climb to the 50%
retracement of the decline from Apr 23 to Jun 5 at $58.50. Note that the double
bottom projection is at $59.19 and still represents an objective further out.

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