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WTI TECHS: (X19) Breaches Trendline Support
*RES 4: $59.49 - High Sep 19 and near-term key resistance
*RES 3: $58.49 - High Sep 24
*RES 2: $57.02 - High Sep 25 and initial key resistance
*RES 1: $55.19 - Former trendline support drawn off Aug 7 low
*PRICE: $54.41 @ 07:10 BST Oct 1
*SUP 1: $53.98 - Low Sep 30
*SUP 2: $53.64 - 76.4% retracement of Aug 7 - Sep 16 rally
*SUP 3: $52.71 - Low Sep 3
*SUP 4: $51.71 - Low Aug 8
WTI traded sharply lower yesterday extending the decline that has been in place
since finding resistance at $63.89 on Sep 16. Trendline support drawn off the
Aug 7 low was breached yesterday at $54.94, and this reinforces the current
bearish outlook with the focus on a move down to support at $52.71 next, Sep 3
low. Resistance has been defined at $57.02, Sep 25 high. A return above this
level is required to ease the bearish pressure.