(Z19) Bullish Rebound Likely To Extend....>

WTI TECHS: (Z19) Bullish Rebound Likely To Extend

*RES 4: $59.11 - Sep 23 high

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

*RES 2: $57.90 - Former trendline support drawn off Aug 7 low

*RES 1: $57.50 - High Nov 5

*PRICE: $57.02 @ 06:20 GMT Nov 6

*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

Friday's sharp rebound in WTI resumed a bullish focus and this weeks breach of

resistance at $56.92, Oct 28 high reinforces this theme. Momentum studies remain

positive overall, a constructive set-up for bulls. Clearance of $56.92 has also

confirmed a resumption of the uptrend that has been in place since Oct 3 and

opens $58.21, a retracement level. Key support has been defined at $53.71. A

move below this level is needed to highlight a bearish threat.