West Texas Light Crude (WTIC) - Testing Support on Weekly Chart?

As stated in our previous post on this commodity (on 5/27/15),  West Texas Light Crude (WTIC) could return to about the $53 level to untested support where a breakout above resistance previously occurred.

Now West Texas Light Crude (WTIC) priced at $52.81 appears to be testing potential support at week's end after being turned back at resistance based on my analysis of the following weekly closing price chart.  

Will support hold or will WTIC continue falling from here? Only time will tell.

Click Chart to Enlarge

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