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NYMEX WTI: (G18) Topside Follow Through...>

OIL TECHS: NYMEX WTI: (G18) Topside Follow Through Lacking 
*RES 4: $65.17 - Low Dec 5 2014 now resistance 
*RES 3: $64.77 - 2018 High Jan 11 
*RES 2: $64.39 - Daily Bull channel top (off Oct low) 
*RES 1: $64.15 - Hourly support Jan 11 now resistance
*PRICE: $63.63 @ 0330GMT
*SUP 1: $63.09 - Hourly resistance Jan 9 now support 
*SUP 2: $62.56 - Hourly resistance Jan 9a now support 
*SUP 3: $61.80 - Low Jan 9 
*SUP 4: $61.34 - Low Jan 8
*COMMENTARY: The contract took its first backward step for 2018 with a lack of
follow through on fresh 2018 & 3+yr highs. When combined with daily studies
overdue a correction it increases the correction risk. The $61.09-63.09 support
region is key. Bears need a close below $62.56 to ease bullish pressure and
below $61.09 to shift focus back to $58.60-60.08 where the bull channel base and
21-DMA are situated.

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