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ICE HO: (J18) Below $1.8905 To Ease.......>

OIL TECHS
OIL TECHS: ICE HO: (J18) Below $1.8905 To Ease Bullish Pressure
*RES 4: $1.9849 - Low Dec 27 now resistance
*RES 3: $1.9770 - 55-DMA
*RES 2: $1.9641 - 21-DMA
*RES 1: $1.9395 - High Feb 20
*PRICE: $1.9192 @ 0430GMT
*SUP 1: $1.9074 - Low Feb 21
*SUP 2: $1.8905 - Low Feb 16
*SUP 3: $1.8553 - Low Feb 15
*SUP 4: $1.8419 - High Feb 13 now support
*COMMENTARY: Topside hesitation is now a concern given daily studies having
corrected back to neutral levels. The dip below the 100-DMA ($1.9165) lacked
follow through with bears needing a close below $1.8905 to ease bullish pressure
and return initial focus to $1.8111-1.8553. Bulls need a close above $1.9395 to
regain upward momentum and above $1.9849 to confirm breaks of 21 & 55-DMAs,
hinting at a move back to $2.0811-2.1095 and above $2.0428 to confirm.

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