NYMEX WTI: (J18) Bulls Need Close Above...>

OIL TECHS: NYMEX WTI: (J18) Bulls Need Close Above $61.83 

*RES 4: $64.24 - High Feb 26 

*RES 3: $63.58 - Hourly resistance Feb 27 

*RES 2: $61.83 - Hourly resistance Mar 1 

*RES 1: $61.76 - 21-DMA

*PRICE: $61.60 @ 0300GMT

*SUP 1: $60.13 - Low Mar 2 

*SUP 2: $59.60 - Low Feb 15 

*SUP 3: $59.20 - Daily Bull channel base 

*SUP 4: $58.93 - 100-DMA

*COMMENTARY: Losses defined last week with bulls now needing a close above

$61.83 to ease bearish pressure and above $64.97 to return initial focus to

$66.39-65 where 2018 highs are noted. While $61.83 caps bears remain focused on

layers of support $57.90-59.60 where the 100-DMA and daily bull channel base

($59.20) are situated. Correcting O/B studies add weight to the bearish case.