NYMEX WTI: (H18) Below $62.78 To Target...>

OIL TECHS: NYMEX WTI: (H18) Below $62.78 To Target $58.82-60.75 

*RES 4: $66.66 - 2018 High Jan 25 

*RES 3: $65.68 - Hourly resistance Jan 29 

*RES 2: $65.19 - Hourly resistance Jan 30 

*RES 1: $64.67 - Hourly support Jan 30 now resistance

*PRICE: $64.56 @ 2030GMT

*SUP 1: $64.10 - Low Jan 30 

*SUP 2: $63.70 - Low Jan 23 

*SUP 3: $63.42 - 21-DMA 

*SUP 4: $62.78 - Low Jan 19

*COMMENTARY: H18 remains heavy with correcting O/B daily studies seen weighing.

The close below $64.87 eases bullish pressure with bears now looking for a close

below $62.78 to confirm a break of the 21-DMA and initially focus on

$58.82-60.75 where the 55-DMA ($59.79) is found. Resistance layers are building

and weighing also with bulls now needing a close above $65.68 to reconfirm focus

on $69.54 (Dec 1 2014 high).