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WTI TECHS: (U18) 12-Month Uptrend.........>

OIL TECHS
OIL TECHS: WTI TECHS: (U18) 12-Month Uptrend Broken
*RES 4: $70.60 - High July 13 
*RES 3: $70.43 - High July 30 
*RES 2: $69.95 - High August 6 
*RES 1: $68.37 - High August 14
*PRICE: $64.84 @ 09:04 GMT 
*SUP 1: $64.43 - Intraday low
*SUP 2: $63.13 - 200 DMA
*SUP 3: $62.99 - Low June 18 
*SUP 4: $61.05 - Low April 6
WTI has accelerated the recent decline to break lower through major up trendline
support developed over the past 12-months. A weekly close below the trendline,
now at 65.41 will leave a significant bearish pattern in place on longer term
charts. The focus is now on the 200-dma at 63.13 and the 62.99 June low.
Rebounds are likely to find initial resistance at 66.32/40, which also coincides
with a 50% retracement of the last leg lower.

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