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WTI TECHS: (X19) Focus Is On Trendline Support
*RES 4: $63.89 - High Sep 16
*RES 3: $62.39 - High Sep 17
*RES 2: $59.49 - High Sep 19 and near-term key resistance
*RES 1: $58.49 - High Sep 24
*PRICE: $55.89 @ 07:29 BST Sep 30
*SUP 1: $55.55 - Low Sep 25
*SUP 2: $54.94 - Trendline support drawn off the Aug 7 low
*SUP 3: $53.93 - Low Sep 12
*SUP 4: $53.65 - Low Sep 4
WTI traded lower last week filling the entire gap left by the risk related price
spike on Sep 16. Bearish pressure is seen likely to remain intact for now and
attention turns to trendline support at 55.06, drawn off the Aug 7 low. A break
of the trendline, and of Friday's 54.75 low would open 53.93. On the upside,
initial key resistance has been defined at 59.49, Sep 19 high. First resistance
however is at 57.02, Sep 25 high. Look for the contract to trade lower.