NYMEX WTI: ###POV $73.25 Resistance Key...>

OIL TECHS: NYMEX WTI: ###POV $73.25 Resistance Key For LT Traders

- The recovery from $42.05 2017 lows has seen the contract rally during 2018

with LT bulls currently focused on $71.01-73.25 where the weekly bull channel

top and resistance from Nov 2014 are located. O/B daily studies looking to

correct remain the key concern for LT traders.

- LT bulls now need a close above $73.25 to shift initial focus to $90.74 and

overall focus to $107.73 2014 highs.

- The $59.05 (monthly high Nov 2017) to $62.21 (weekly low Jan) support region

is key for LT traders. A close below $59.05 is needed to place the rally on hold

and shift initial focus back to $49.10-54.81 where key WMAs and the bull channel

base are located. Overall below the channel base ($49.10) is needed to shift the

LT focus to short and initially target $39.19 (Aug 2016 monthly low) to $42.05

(2017 low).

- Click for chart https://tinyurl.com/y9ejujm6