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WTI TECHS: (Z19) Uptrend Remains In Place
*RES 4: $59.11 - Sep 23 high
*RES 3: $58.73 - Former trendline support drawn off Aug 7 low
*RES 2: $58.21 - 61.8% retracement of Sep 16 - Oct 3 decline
*RES 1: $57.97 - High Nov 18
*PRICE: $57.74 @ 06:28 GMT Nov 18
*SUP 1: $55.76 - Low Nov 8 and key support
*SUP 2: $55.56 - 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 was firmer Friday probing initial resistance at $57.88, Nov 7 high. The
outlook however remains bullish with a positive price sequence of higher highs
and higher lows still intact. Furthermore, momentum studies point north 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 $55.76, low
Nov 8. A break would represent a concern for bulls.