Oil finished virtually unchanged overnight,.....>

OIL: Oil finished virtually unchanged overnight, with WTI trading at $65.20 &

Bret trading at $69.40, as crude held on to its DoE inspired gains, after the

headline crude release registered a drawdown in the weekly inventory report.

- It is worth noting that US production has continued to tick higher according

to the official release.

- For WTI the aggressive break of $64.07 sees bulls now focused on $65.63-66.66

where monthly and 2018 highs are situated. A close above $66.66 is needed to

target $69.54-73.25 last seen in early 2014. The Bollinger band top ($64.97) is

the key concern for bulls with potential to limit follow through. Bears now need

a close below $64.65 to gain breathing room and below $63.99 to shift initial

focus back to $62.52.