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(Z19) Consolidating But Remains Bullish...>

WTI TECHS
WTI TECHS: (Z19) Consolidating But Remains Bullish
*RES 4: $59.11 - Sep 23 high
*RES 3: $58.61 - Former trendline support drawn off Aug 7 low
*RES 2: $58.21 - 61.8% retracement of Sep 16 - Oct 3 decline
*RES 1: $57.88 - High Nov 7 and bull trigger
*PRICE: $57.53 @ 06:36 GMT Nov 14
*SUP 1: $55.76 - Low Nov 8
*SUP 2: $55.25 - Trendline support drawn off Oct 10 low
*SUP 3: $53.71 - Low Oct 31 and key support
*SUP 4: $52.46 - Low Oct 15
WTI is consolidating for now, the outlook though remains bullish. Last weeks
breach of resistance at $56.92, Oct 28 high reinforces this theme. Furthermore,
momentum studies remain positive marking 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. However a failure to hold above initial
support at $55.76 would be a concern for bulls.

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