(X20) Bearish Threat Remains Present

• RES 4: $43.51 - High Sep 2
• RES 3: $42.29 - 76.4% retracement of the Aug 26 - Sep 8 sell-off
• RES 2: $41.72 - High Sep 18 and the short-term bull trigger
• RES 1: $40.75 - High Sep 23
• PRICE: $40.49 @ 06:35 BST Sep 25
• SUP 1: $38.62 - Low Sep 16
• SUP 2: $37.02 - Low Sep 11
• SUP 3: $36.58 - Low Sep 8 and the bear trigger
• SUP 4: $35.54 - Low Jun 12

WTI futures are trading off recent lows following the reversal lower earlier this week. The sell-off on Sep 21 confirmed a top at $41.72, Sep 18 high and highlights a bearish threat. Price action last week stalled just above the 61.8% retracement of the Aug 26 - Sep 8 sell-off. Continued weakness would open $36.58, Sep 8 low. Key resistance has been defined at $41.72 where a break is required to reinstate a bullish outlook.