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(Z19) Pressures 50% Retracement *RES 4:...>

WTI TECHS
WTI TECHS: (Z19) Pressures 50% Retracement
*RES 4: $59.11 - High Sep 23
*RES 3: $58.21 - 61.8% retracement of Sep 16 - Oct 3 decline
*RES 2: $57.07 - Former trendline support drawn off Aug 7 low
*RES 1: $56.85 - Intraday highHigh Oct 24
*PRICE: $56.54 @ 06:40 BST Oct 28
*SUP 1: $54.99 - High Oct 11/14 and former breakout point
*SUP 2: $53.62 - Low Oct 24
*SUP 3: $52.46 - Low Oct 15 and key near-term support
*SUP 4: $51.40 - Low Oct 10
WTI traded higher again Friday and has started the week on a firmer note.
Further upside is anticipated following last weeks breach of former resistance
at $54.99 and the 38.2% retracement of Sep 16 - Oct 3 decline at $55.42.
Overnight, the 50% retracement at $56.82 has been tested, a clear break would
open the 61.8% level at $58.21. Support is at $54.99, Oct 11/14 high and former
breakout point.

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