NYMEX HO: (F18) Pressure Back On Bull.....>

OIL TECHS: NYMEX HO: (F18) Pressure Back On Bull Channel Base

*RES 4: $1.9652 - 2017 High Nov 28

*RES 3: $1.9484 - Hourly resistance Dec 1

*RES 2: $1.9327 - Hourly resistance Dec 4

*RES 1: $1.9203 - Hourly support Dec 4 now resistance

*PRICE: $1.8962 @ 0430GMT

*SUP 1: $1.8912 - Bollinger band base

*SUP 2: $1.8870 - Low Nov 14

*SUP 3: $1.8801 - Daily Bull channel base (Off June 26 Low)

*SUP 4: $1.8523 - 55-DMA

*COMMENTARY: Failure to better current 2017 highs resulted in a sell-off that

with pressure back on the bull channel base. Bears look for a close below the

channel base to confirm an easing of bullish pressure and shift initial focus to

$1.8400-1.8523 where the 55-DMA is noted. Bulls now need a close above $1.9327

to ease pressure on supports and shift focus back to 2017 highs. Bulls then look

for a close above $1.9652 to confirm focus on the bull channel top ($2.0464).