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

OIL TECHS
OIL TECHS: NYMEX WTI: (K18) $59.18 Support Key This Week 
*RES 4: $63.05 - High Mar 6 
*RES 3: $62.22 - High Mar 12 
*RES 2: $61.99 - 55-DMA 
*RES 1: $60.91 - Hourly resistance Mar 13
*PRICE: $60.66 @ 0530GMT
*SUP 1: $60.29 - Low Mar 13 
*SUP 2: $59.91 - Low Mar 8 
*SUP 3: $59.33 - 100-DMA 
*SUP 4: $59.18 - High Feb 13 now support
*COMMENTARY: Despite looking heavy last week the $59.18-91 support region where
the 100-DMA and bull channel base ($59.47) are located confirmed significance
with a rally that provided 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 $57.60 to confirm.

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