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NYMEX WTI: (H18) Bears Focused On.........>

OIL TECHS
OIL TECHS: NYMEX WTI: (H18) Bears Focused On $60.75-62.05 
*RES 4: $65.17 - Low Dec 5 2014 now resistance 
*RES 3: $64.83 - 2018 High Jan 16 
*RES 2: $64.28 - High Jan 18 
*RES 1: $63.73 - High Jan 19
*PRICE: $63.51 @ 0430GMT
*SUP 1: $62.53 - Hourly resistance Jan 8 now support 
*SUP 2: $62.05 - High Jan 4 now support 
*SUP 3: $61.64 - 21-DMA 
*SUP 4: $60.75 - High Jan 2 now support
*COMMENTARY: The lack of topside follow through on the most recent 2018 high and
also Thursday left the contract looking heavy with bears initially focusing on
$60.75-62.05 where the 21-DMA is located. Overall bears need a close below
$60.75 to shift focus to $58.81-82 where the 55-DMA is noted. Correcting O/B
studies are weighing with bulls needing a close above $65.17 to reconfirm a
bullish bias targeting $69.54-73.25.

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