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  • WTI has been recovering from the recent lows below the 55 handle scored earlier this month  ahead  of a critical technical level around recent highs.  
  • Eyes are on highest levels since mid-November while above 57.93  – a horizontal and prior resistance line going back to mid-Nov 2018 which has given way on third attempt (bullish)  
  • A break of 59.70 and then the 61.8% Fibo of the Oct 2018 sell-off to late Dec lows at 63.74 will reveal prospects for  the 200D SMA around 62.00.  
  • The criteria  for a long is intact according to the Ichimoku Cloud:
  1. Price must close above the Cloud.
  2. Cloud ahead must be bullish (green).
  3. Conversion Line is greater than the base-line.
  4. Lagging Span is greater than or crosses above the cloud.  
  • Support levels: 57.68, 56.75, 56.23.
  • Resistance levels: 59.13, 59.85, 60.58.