(Z19) $54.99 Is The Upside Trigger *RES...>

WTI TECHS: (Z19) $54.99 Is The Upside Trigger

*RES 4: $56.80/82 - High Sep 25 / 50.0% of Sep 16 - Oct 3 decline

*RES 3: $56.60 - Former trendline support drawn off Aug 7 low

*RES 2: $55.42 - 38.2% retracement of Sep 16 - Oct 3 decline

*RES 1: $54.99 - High Oct 10/11 and upside trigger

*PRICE: $53.34 @ 06:42 BST Oct 22

*SUP 1: $52.46 - Low Oct 15 and key near-term support

*SUP 2: $51.40 - Low Oct 10

*SUP 3: $50.89 - Low Oct 3 and key support

*SUP 4: $50.33 - Low Aug 7

The WTI focus remains on the potential for gains. Last weeks move higher eases

somewhat the recent bearish concerns following the move lower on Oct 14/15. The

focus is on initial resistance at $54.99, Oct 10/11 high. A break would

reinstate a bullish condition, confirming a price sequence of higher highs and

higher lows and open the former trendline support at $56.60. Clearance of this

resistance opens $56.80. Support is at $52.39.