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NYMEX HO: (H18) Immediate Focus On Bull...>

OIL TECHS
OIL TECHS: NYMEX HO: (H18) Immediate Focus On Bull Channel Top
*RES 4: $2.2105 - High Dec 2 2014
*RES 3: $2.1659 - Bollinger band top
*RES 2: $2.1493 - Daily Bull channel top
*RES 1: $2.1362 - 2018 High Jan 26
*PRICE: $2.1251 @ 0430GMT
*SUP 1: $2.1171 - Hourly support Jan 26
*SUP 2: $2.0991 - Low Jan 26
*SUP 3: $2.0722 - Hourly support Jan 23
*SUP 4: $2.0677 - 21-DMA
*COMMENTARY: The 21-DMA supported on the correction lower providing the base for
fresh 2018 & 3+ year highs. Bulls currently focus on $2.1493-2.2105 where the
bull channel top is noted. The Bollinger top ($2.1224) is the key concern for
bulls with potential to limit follow through. Bears now need a close below
$2.0991 to gain breathing room and below $2.0559 to confirm a break of the
21-DMA and shift focus back to $1.9724-2.0059.

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