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NYMEX WTI: (G18) Above $58.99 Targets.....>

OIL TECHS
OIL TECHS: NYMEX WTI: (G18) Above $58.99 Targets $60.14-62.87 
*RES 4: $62.87 - Daily Bull channel top (off Oct low) 
*RES 3: $60.48 - Daily Bull channel top (off June low) 
*RES 2: $60.14 - 200-WMA 
*RES 1: $58.99 - Monthly High Nov 24
*PRICE: $58.52 @ 0345GMT
*SUP 1: $58.18 - Hourly support Dec 22 
*SUP 2: $57.58 - 21-DMA 
*SUP 3: $57.20 - Low Dec 19 
*SUP 4: $56.88 - Low Dec 18
*COMMENTARY: The recovery from the dip back towards $55.88 sees bulls focused on
$58.99 with a break targeting the 200-WMA and channel tops ($60.48-62.87).
Layers of support building add to bullish confidence with a close below the
21-DMA needed to ease renewed bullish pressure. A close below $55.15 remains
needed to confirm a break of the 55-DMA ($55.75) and initially target
$52.77-54.07.

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