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

OIL TECHS
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: $63.98 @ 0530GMT
*SUP 1: $63.58 - 21-DMA 
*SUP 2: $62.78 - Low Jan 19 
*SUP 3: $62.05 - High Jan 4 now support 
*SUP 4: $60.75 - High Jan 2 now support
*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 ($59.90) 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).

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