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NYMEX HO: (G18) Bulls Focused On..........>

OIL TECHS
OIL TECHS: NYMEX HO: (G18) Bulls Focused On Channel Top
*RES 4: $2.2105 - High Dec 2 2014
*RES 3: $2.0802 - Daily Bull channel top
*RES 2: $2.0622 - 2015 High May 6
*RES 1: $2.0552 - 2017 High Dec 27
*PRICE: $2.0362 @ 0430GMT
*SUP 1: $2.0201 - Low Dec 27
*SUP 2: $1.9808 - High Dec 12 now support
*SUP 3: $1.9644 - Alternating support/resistance
*SUP 4: $1.9349 - Low Dec 21
*COMMENTARY: Fresh 2017 & 2+ year highs reconfirmed the bullish bias with
immediate focus on $2.0622-0802 where 2015 highs and the bull channel top are
situated. The Bollinger top ($2.0324) is the key concern for bulls with
potential to limit follow through. Bears now need a close below $2.0201 to gain
breathing room and below $1.9644 to shift focus back to $1.8987-1.9117 where the
55-DMA and bull channel base are noted.

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