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NYMEX HO: (F18) Topside Follow Through....>

OIL TECHS
OIL TECHS: NYMEX HO: (F18) Topside Follow Through Lacking
*RES 4: $1.9812 - High Dec 12
*RES 3: $1.9731 - Bollinger band top
*RES 2: $1.9644 - Alternating support/resistance
*RES 1: $1.9509 - Hourly support Dec 12 now resistance
*PRICE: $1.9433 @ 0430GMT
*SUP 1: $1.9187 - Low Dec 11
*SUP 2: $1.8994 - High Dec 7 now support
*SUP 3: $1.8734 - Daily Bull channel base
*SUP 4: $1.8660 - 55-DMA
*COMMENTARY: Fresh 2017 & 2+ year highs continue although the lack of topside
follow through is a concern for bulls and leaves the contract looking a little
heavy. Bears now need a close below $1.8994 to pressure the bull channel base
and 55-DMA. Overall below $1.8400 is needed to confirm breaks of these supports,
ending bullish hopes and initially focusing on the 100-DMA ($1.7830). Bulls need
a close above $1.9644 to reconfirm focus on the bull channel top ($2.0352).

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