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NYMEX WTI: (G18) Hesitating Ahead Of 200-WMA ....>

US
US: NYMEX WTI: (G18) Hesitating Ahead Of 200-WMA 
*RES 4: $62.87 - Daily Bull channel top (off Oct low) 
*RES 3: $61.30 - Weekly Bollinger band top 
*RES 2: $60.70 - Daily Bull channel top (off June low) 
*RES 1: $60.15 - 200-WMA
*PRICE: $59.76 @ 0330GMT
*SUP 1: $59.33 - Low Dec 27 
*SUP 2: $58.99 - Monthly High Nov 24 now support 
*SUP 3: $58.18 - Hourly support Dec 22 
*SUP 4: $57.80 - 21-DMA
*COMMENTARY: The recovery from the dip back towards $55.88 resulted in a close
above $58.99 Tuesday with bulls firmly focused on $60.15-70 where the bull
channel top off June lows is located. Bulls look for a close above $60.63 to
initially target the bull channel top off Oct lows. Layers of support
accumulating add to bullish confidence. Bears look for a close below $58.99 to
ease bullish pressure and below $56.88 to pressure the 55-DMA ($56.09).

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