(Z19) Bullish Focus Intact *RES 4:........>

WTI TECHS: (Z19) Bullish Focus Intact

*RES 4: $59.11 - Sep 23 high

*RES 3: $58.21 - 61.8% retracement of Sep 16 - Oct 3 decline

*RES 2: $58.14 - Former trendline support drawn off Aug 7 low

*RES 1: $57.85 - High Nov 6 and bull trigger

*PRICE: $56.87 @ 06:18 GMT Nov 8

*SUP 1: $55.83 - Low Nov 4

*SUP 2: $53.71 - Low Oct 31 and key support

*SUP 3: $52.46 - Low Oct 15

*SUP 4: $51.40 - Low Oct 10

The Nov 1 sharp rebound in WTI resumed a bullish focus and this weeks breach of

resistance at $56.92, Oct 28 high reinforced this theme. The focus remains on

the upside. Momentum studies remain positive too, a constructive set-up for

bulls. Scope is seen for a climb to $58.21, the next retracement objective. On

the downside, key support has been defined at $53.71. Initial support though

lies at $55.83.