(H19) Rally Extends To Target $55 *RES....>

WTI TECHS: (H19) Rally Extends To Target $55

*RES 4: $76.90 - High Oct 17 (continuation chart) 

*RES 3: $64.12 - 200-dma (continuation chart) 

*RES 2: $57.96 - High Nov 16 (continuation chart) 

*RES 1: $55.00 - Pivot area 

*PRICE: $5.59 @ 06:04 GMT Jan 31 

*SUP 1: $51.59 - 21-dma 

*SUP 2: $50.38 - Low Jan 14 

*SUP 3: $42.36 - Dec 24 low (continuation chart) 

*SUP 4: $42.05 - June 21, 2017 (continuation chart) 

WTI futures broke to fresh ytd highs yesterday rallying to just below the $55.00

pivot level. A close above here would reignite upside momentum, targeting the

Nov 16 high at $57.96 ahead of a return the 200dma which comes in at $64.12.

Bears need to break back below the 21-dma at $51.59 to regain the upper hand,

while a break below the Jan 14 low at $50.38 is needed shift the outlook

bearish. Below here would bring the Dec 24 low at $42.36 back into focus.