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NYMEX WTI: (F18) Bears Need Close Below...>

OIL TECHS
OIL TECHS: NYMEX WTI: (F18) Bears Need Close Below $56.91 
*RES 4: $60.62 - Daily Bull channel top 
*RES 3: $59.10 - Bollinger band top 
*RES 2: $59.05 - 2017 High Nov 24 
*RES 1: $58.40 - Hourly resistance Dec 1
*PRICE: $58.24 @ 0430GMT
*SUP 1: $57.62 - Hourly support Dec 11 
*SUP 2: $57.37 - Hourly resistance Dec 11 now support 
*SUP 3: $56.91 - Low Dec 11 
*SUP 4: $56.54 - Low Dec 8
*COMMENTARY: Bears failed to capitalise on the closes below the 21-DMA ($57.19)
with the recovery seeing bulls regain the upper hand and focus back on
$59.05-60.62 where 2017 highs and the daily bull channel top are situated.
Layers of support have built up, adding to bullish confidence. Bears now need a
close below $59.91 to ease bullish pressure and produce a correction back to the
key $54.66-55.75 region where 55-DMA and channel base are found.

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