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NYMEX WTI: (H18) Above $65.17 Initially...>

OIL TECHS
OIL TECHS: NYMEX WTI: (H18) Above $65.17 Initially Targets $69.54 
*RES 4: $69.54 - High Dec 1 2014 
*RES 3: $65.81 - Bollinger band top 
*RES 2: $65.17 - Low Dec 5 2014 now resistance 
*RES 1: $64.88 - 2018 High Jan 23
*PRICE: $64.38 @ 0330GMT
*SUP 1: $64.19 - Hourly support Jan 23 
*SUP 2: $63.70 - Low Jan 23 
*SUP 3: $62.78 - Low Jan 19 
*SUP 4: $62.23 - 21-DMA
*COMMENTARY: Support emerging on dips so far this week provides bulls comfort
although the lack of follow through on fresh 2018 and 3+yr highs is a concern
when combined with daily studies looking to correct from O/B. Support layers
building see bears now needing a close below $63.70 to gain breathing room.
Overall a close below $62.05 is needed to confirm a break of the 21-DMA, ending
bullish hopes and shifting focus back to the 55-DMA ($59.17).

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