WTI TECHS: (Q19) Trendline support........>

WTI TECHS: WTI TECHS: (Q19) Trendline support intact

*RES 4: $62.86 - High May 22

*RES 3: $62.58 - 76.4% retrace of the Apr 23-Jun 5 low

*RES 2: $61.35 - High May 23

*RES 1: $60.94 - High Jul 11

*PRICE: $59.60 @ 07:02 BST Jul 16

*SUP 1: $58.96 - Trendline support drawn off the Jun 18 low

*SUP 2: $58.35 - Low Jul 10

*SUP 3: $57.29 - Low Jul 9

*SUP 4: $56.04 - Low Jul 3 and key support

WTI remains bullish. The break last week above the former resistance at 60.28,

the high of Jul 1 confirmed a bullish resumption of the trend and paves the way

for a climb to 61.35, the high of Jun 23. Note that the 61.8% retracement of the

Apr 23-Jun 5 decline at 60.33 has also been cleared. This sets the scene for a

climb towards the 76.4% retracement at 62.58. Support lies at last Wednesday's

58.35 low. Trendline support drawn off the low of Jun 18 is at 58.96.