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(Z18) Struggling To Bounce Off $55 *RES...>

WTI TECHS
WTI TECHS: (Z18) Struggling To Bounce Off $55
*RES 4: $72.29 - High Oct 17 
*RES 3: $70.00 - Resistance area 
*RES 2: $65.29 - 200-dma 
*RES 1: $60.00 - Resistance 
*PRICE: $56.09 @ 05:48 GMT 
*SUP 1: $51.00 - Up trendline support from Jan 2016 lows 
*SUP 2: $50.01 - Low Oct 6, 2017 
*SUP 3: $45.51 - Low Jun 21, 2017 
*SUP 4: $40.60 - Low Jan 20, 2016 
WTI futures continue to look bearish as bulls look to close below the $55 level
to target up trendline support from the 2016 lows which comes in at $51. Below
here would open the $50 level ahead of a return to the mid-2017 lows. While
momentum is becoming extremely oversold, bulls will need to reclaim the $60
level to shift the outlook neutral. Above here would open the 200-dma, currently
at $65.29.

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