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NYMEX HO: (H18) Bulls Need Close Above....>

OIL TECHS
OIL TECHS: NYMEX HO: (H18) Bulls Need Close Above $2.1362
*RES 4: $2.1530 - Daily Bull channel top
*RES 3: $2.1362 - 2018 High Jan 26
*RES 2: $2.1171 - Hourly support Jan 26 now resistance
*RES 1: $2.0991 - Low Jan 26 now resistance
*PRICE: $2.0853 @ 0430GMT
*SUP 1: $2.0722 - Hourly support Jan 23
*SUP 2: $2.0690 - 21-DMA
*SUP 3: $2.0559 - Low Jan 23
*SUP 4: $2.0285 - Low Jan 3
*COMMENTARY: The 21-DMA supported on the correction lower providing the base for
fresh 2018 & 3+ year highs. Hesitation ahead of the daily bull channel top and
recent 2018 high has resulted in a correction back towards the 21-DMA. Bears now
look for a close below $2.0559 to confirm a break of the 21-DMA and shift focus
back to $1.9724-2.0059 where the 55-DMA and bull channel base are noted. Bulls
need a close above $2.1362 to retain initial focus on the channel top.

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