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NYMEX HO: (G18) Below $1.8383 To Shift....>

OIL TECHS
OIL TECHS: NYMEX HO: (G18) Below $1.8383 To Shift Focus Lower
*RES 4: $1.9808 - High Dec 12
*RES 3: $1.9644 - Alternating support/resistance
*RES 2: $1.9501 - High Dec 13
*RES 1: $1.9409 - High Dec 18
*PRICE: $1.9276 @ 0430GMT
*SUP 1: $1.9032 - Low Dec 15
*SUP 2: $1.8930 - Daily Bull channel base (off June 26 Low)
*SUP 3: $1.8715 - 55-DMA
*SUP 4: $1.8615 - Low Dec 7
*COMMENTARY: Fresh 2017 & 2+ year highs lacked follow through and left the
contract looking a little heavy. The bounce from around the bull channel base is
less than ideal for bears with bulls now needing a close above $1.9501 to return
focus to $1.9808. Bears need a close below the channel base to ease bullish
pressure and below the 55-DMA to hint at a move back to $1.7595-1.7907 with
below $1.8383 to confirm.

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