WTI TECHS: (V19) Testing former...........>

WTI TECHS: WTI TECHS: (V19) Testing former trendline resistance

*RES 4: $58.86 - High Jul 31

*RES 3: $58.05 - High Aug 1

*RES 2: $57.13/40 - High Aug 21, High Aug 13 and key resistance

*RES 1: $56.89 - High Aug 29

*PRICE: $54.86 @ 06:58 BST Sep 3

*SUP 1: $54.34 - Intraday low

*SUP 2: $53.69 - Low Aug 27

*SUP 3: $52.96 - Low Aug 26 and key near-term support

*SUP 4: $51.84 - Low Aug 8

WTI last week breached trendline resistance drawn off the Jul 15 high. The line

intersects at $54.91. The pullback Friday has resulted in a retest of the

trendline. If the general area of support offered by the trendline holds, this

would reinforce the bullish significance of the break. An extension higher would

open $57.40, the low of Aug 13 high where a break would confirm a bullish theme.

On the downside, a move through $52.96, Aug 26 low would however be bearish.