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NYMEX HO: (F18) Bulls Focused On..........>

OIL TECHS
OIL TECHS: NYMEX HO: (F18) Bulls Focused On Channel Top
*RES 4: $2.0098 - Daily Bull channel top
*RES 3: $1.9998 - High May 21 2015
*RES 2: $1.9631 - High May 29 2015
*RES 1: $1.9584 - 2017 High Nov 10
*PRICE: $1.9383 @ 0430GMT
*SUP 1: $1.9281 - Hourly resistance Nov 20 now support
*SUP 2: $1.9081 - Low Nov 20
*SUP 3: $1.8989 - 21-DMA
*SUP 4: $1.8870 - Low Nov 14
*COMMENTARY: Consolidation above the 200-WMA ($1.9286) adds support to the
bullish case targeting the daily bull channel top. Bulls took comfort in support
emerging on dips last week with bears now needing a close below $1.8870 to
confirm a break of the 21-DMA, easing bullish pressure and shifting focus back
to $1.8036-1.8434 where the daily bull channel base and 55-DMA are situated.

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