WTI TECHS: (X6) Corrective Pullback

* RES 4: $109.57 - 2.236 proj of the Jul 2 - 23 - Aug 5 price swing * RES 3: $107.10 - 76.4% retracement of the Mar - Jul bear (cont) * RES 2: $105.61 - 2.000 proj of the Jul 2 - 23 - Aug 5 price swing * RES 1: $101.69 - High Sep 15 and the bull trigger * PRICE: $89.28 @ 07:14 BST Sep 23 * SUP 1: $88.67 - Low Sep 22 * SUP 2: $85.71 - 50-day EMA * SUP 3: $72.05 - Low Aug 5 and a key support * SUP 4: $67.09 - Low Jul 2 and the bear trigger A bull cycle in WTI futures remains intact and the latest pullback appears corrective - for now. Note that MA studies are in a bull-mode position and this highlights a dominant uptrend. However,this week's move down has resulted in a breach of the 20-day EMA, at $91.28. The next key support to watch lies at $85.71, the 50-day EMA. A clear break of it would undermine the bull theme. Key resistance and the bull trigger is $101.69, the Sep 15 high.