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(Z19) Outlook Remains Bullish *RES 4:.....>

WTI TECHS
WTI TECHS: (Z19) Outlook Remains Bullish
*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: $57.88 - High Nov 7 and bull trigger
*PRICE: $56.67 @ 06:27 GMT Nov 11
*SUP 1: $55.76 - Low Nov 8
*SUP 2: $53.71 - Low Oct 31 and key support
*SUP 3: $52.46 - Low Oct 15
*SUP 4: $51.40 - Low Oct 10
WTI has traded in a consolidative, choppy manner in recent sessions. 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.
Initial support though lies at $55.76.

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