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NYMEX HO: (F18) $1.8400 Support Key.......>

OIL TECHS
OIL TECHS: NYMEX HO: (F18) $1.8400 Support Key Today
*RES 4: $1.9652 - 2017 High Nov 28
*RES 3: $1.9235 - 21-DMA
*RES 2: $1.9103 - High Dec 4
*RES 1: $1.8870 - Low Nov 14 now resistance
*PRICE: $1.8691 @ 0430GMT
*SUP 1: $1.8563 - 55-DMA
*SUP 2: $1.8400 - Monthly Low Nov 2
*SUP 3: $1.8036 - Low Oct 25
*SUP 4: $1.7675 - 100-DMA
*COMMENTARY: The correction lower from the double daily top around $1.9652 sees
the contract pressuring the 55-DMA having closed below the bull channel base
($1.8882). The $1.8400 support is key today with bears needing a close below to
confirm a break of the 55-DMA and shift focus back to $1.7484-1.7675 where the
100-DMA is noted. Bulls now need a close above $1.8870 to ease bearish pressure
and above the 21-DMA to shift focus back to $1.9652.

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