NYMEX HO: (H18) Bears Targeting...........>

OIL TECHS: NYMEX HO: (H18) Bears Targeting $1.9724-2.0059

*RES 4: $2.0991 - Low Jan 26 now resistance

*RES 3: $2.0872 - Hourly resistance Jan 29

*RES 2: $2.0749 - Hourly resistance Jan 30

*RES 1: $2.0688 - 21-DMA

*PRICE: $2.0591 @ 0430GMT

*SUP 1: $2.0285 - Low Jan 3

*SUP 2: $2.0221 - Bollinger band base

*SUP 3: $2.0059 - Low Dec 27

*SUP 4: $1.9942 - Daily Bull channel base

*COMMENTARY: Bulls recently failed to capitalise on fresh 2018 & 3+ year highs

with the correction lower gathering steam and now trading below the 21-DMA.

Bears now look for a close below $2.0285 to add weight to the case for a test of

the $1.9724-2.0059 support region where the bull channel base and 55-DMA are

located. Bulls now need a close above $2.0749 to gain breathing room and above

$2.0991 to shift initial focus back to 2018 highs.