NYMEX WTI: (K18) $59.18 Support Key.......>

OIL TECHS: NYMEX WTI: (K18) $59.18 Support Key This Week 

*RES 4: $68.21 - Daily Bull channel top 

*RES 3: $66.02 - Monthly High Jan 25 

*RES 2: $64.07 - High Feb 26 

*RES 1: $63.05 - High Mar 6

*PRICE: $62.01 @ 0430GMT

*SUP 1: $61.56 - Hourly support Mar 9 

*SUP 2: $61.31 - 21-DMA 

*SUP 3: $60.85 - Hourly resistance Mar 9 now support 

*SUP 4: $60.42 - Hourly resistance Mar 9a now support

*COMMENTARY: Despite looking heavy last week the $59.18-91 support region where

the 100-DMA ($59.25) and bull channel base ($59.18) are located confirmed

significance with a rally that provides bulls breathing room and hints at a test

of $63.05-64.07 this week. Overall a close above $64.07 remains needed to return

focus to $66.02-68.21. Bears need a close below $59.18 to hint at a move back to

$53.30-55.40 with below $57.11 (Bull channel base) to confirm.