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OIL TECHS: (Z18) New YTD Lows
*RES 4: $72.29 - High Oct 17
*RES 3: $70.00 - Resistance area
*RES 2: $65.31 - 200-dma
*RES 1: $60.00 - Resistance
*PRICE: $55.30 @ 06:14 GMT
*SUP 1: $51.00 - Up trendline support from Jan 2016 lows
*SUP 2: $50.01 - Low Oct 6, 2017
*SUP 3: $45.51 - Low Jun 21, 2017
*SUP 4: $40.60 - Low Jan 20, 2016
WTI futures hit fresh ytd lows yesterday as prices marginally dipped below the
Feb lows. The next level of support comes in at $51 marking up trendline support
from the 2016 lows, below which would open the $50 level. While momentum is
becoming extremely oversold, bulls will need to reclaim the $60 level to shift
the outlook neutral. Above here would open the 200-dma, currently at $65.31.