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(M19) 200/55-DMAs Hold On A Closing.......>

WTI TECHS
WTI TECHS: (M19) 200/55-DMAs Hold On A Closing Basis  
*RES 4: $70.00 - High Oct 22 
*RES 3: $68.13/36 - 76.4% Retracement/High Oct 26 
*RES 2: $66.60 - High Apr 23 
*RES 1: $64.75 - High Apr 30 
*PRICE: $62.41 @ 05:55 GMT May 7 
*SUP 1: $60.04 - Low May 6 
*SUP 2: $58.44 - Low Mar 25 
*SUP 3: $55.31 - Low Mar 8 
*SUP 4: $52.71 - Low Feb 11 
WTI futures managed to recover their 55 and 200-dmas yesterday after prices
bounced strongly just ahead of the $60 level. To reignite the uptrend bulls now
need to take out Tuesday's high at $64.75 which would return the focus to the
ytd high at $60.60. Bears need to close below the 55/200-dmas at $60.87/77 and a
break below yesterday's low to suggest a downside reversal towards the March 25
low at $58.44. 

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