NYMEX HO: (H18) Bears Need Close Below....>

OIL TECHS: NYMEX HO: (H18) Bears Need Close Below $2.0285

*RES 4: $2.1306 - Daily Bull channel top

*RES 3: $2.1008 - 2018 High Jan 16

*RES 2: $2.0789 - Hourly resistance Jan 16

*RES 1: $2.0653 - High Jan 19

*PRICE: $2.0429 @ 0430GMT

*SUP 1: $2.0367 - 21-DMA

*SUP 2: $2.0285 - Low Jan 3

*SUP 3: $2.0059 - Low Dec 27

*SUP 4: $1.9724 - High Dec 12 now support

*COMMENTARY: Fresh 2018 & 3+ year highs lacked follow through Tuesday with the

sell-off resulting in a dip back towards the 21-DMA. Bears now look for a close

below $2.0285 to confirm a break of the 21-DMA and hint at a move back to

$1.9597-1.9724 with below $2.0059 to confirm. Bulls look for a close above

$2.0789 to retain focus on $2.1008-2.2105 where the bull channel top is noted.

Correcting O/B studies is the key concern for bulls.