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NYMEX HO: (F18) $1.8870-1.9231 Support....>

OIL TECHS
OIL TECHS: NYMEX HO: (F18) $1.8870-1.9231 Support Key
*RES 4: $2.0261 - Daily Bull channel top
*RES 3: $1.9998 - High May 21 2015
*RES 2: $1.9800 - Bollinger band top
*RES 1: $1.9652 - 2017 High Nov 28
*PRICE: $1.9470 @ 0430GMT
*SUP 1: $1.9231 - Low Nov 21
*SUP 2: $1.9201 - 21-DMA
*SUP 3: $1.9081 - Low Nov 20
*SUP 4: $1.8870 - Low Nov 14
*COMMENTARY: Weekly closes above the 200-WMA ($1.9259) adds support to the
bullish case targeting the daily bull channel top. Bulls took comfort in support
continuing to emerge on dips. Bears now need a close below $1.9081 to confirm a
break of the 21-DMA, easing bullish pressure and below $1.8870 to shift focus
back to $1.8378-1.8597 where the daily bull channel base and 55-DMA are
situated.

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