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Last contango in West Texas - Spot........>

                                            WTI TECHS: Last contango in West Texas - Spot continues to run away! The current
                                            May contract expires Tuesday, however, with the more active June futures falling
                                            by around a third as much on more than five times the trading volume. Global
                                            benchmark Brent crude was only down around 3%.
                                            - Support levels to watch on the May contract (K0) are:
                                            - SUP 2: $12.18 - Low Mar 1999 (cont)
                                            - SUP 3: $11.26 - Low Feb 1999 (cont)
                                            - SUP 4: $10.78 3.000 projection of Jan 8 - Feb 4 sell-off from Feb 20 high
                                            - Today's high of $17.85, is the first resistance.
                                            On the June contract (M0):
                                            - SUP 1: $22.74 - Low Mar 23 and under pressure
                                            - SUP 2: $21.64 - Low Mar 18 and the key bear trigger
                                            - SUP 3: $20.00 - Psychological round number
                                            - Resistance is at $24.92 - Today's intraday high.

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