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WTI TECHS: (K19) Upside Momentum Builds
*RES 4: $69.98 - High Oct 22
*RES 3: $68.17/28 - 76.4% Retracement/High Oct 26
*RES 2: $65.00 - Congestion zone
*RES 1: $63.46 - 61.8% retracement
*PRICE: $62.77 @ 05:52 GMT Apr 3
*SUP 1: $60.76 - 200-dma
*SUP 2: $58.17/88 - Low Mar 25/Uptrend support from Feb lows
*SUP 3: $54.87/54.64 - Low Mar 8/100-dma
*SUP 4: $52.16 - Low Feb 11
WTI futures are gaining momentum following the break above its 200-dma with the
61.8% retracement level of the Oct-Dec decline the next upside target at $63.46.
Above here would bring the $65 congestion area back into play. Bears need to
break back below the 200-dma to stabilise the outlook while a break back below
the March 25 low at $58.17 and uptrend support from the Feb lows is needed to
suggest a downside reversal.