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NYMEX HO: (J18) 21-DMA Continues To Cap...>

OIL TECHS: NYMEX HO: (J18) 21-DMA Continues To Cap
*RES 4: $1.9441 - Hourly resistance Feb 28
*RES 3: $1.9286 - 100-DMA
*RES 2: $1.9012 - 21-DMA
*RES 1: $1.8839 - Hourly support Mar 7 now resistance
*PRICE: $1.8629 @ 0430GMT
*SUP 1: $1.8500 - Low Mar 2
*SUP 2: $1.8419 - High Feb 13 now support
*SUP 3: $1.8163 - Bollinger band base
*SUP 4: $1.8097 - Monthly Low Feb 14
*COMMENTARY: The lack of downside follow through last week saw the contract
bounce back to key DMAs. Bulls need a close above the 100-DMA to gain breathing
room. A close above $2.0044 is needed to hint at a move back to 2.0880-2.1098
with above $2.0346 to confirm. While the 100-DMA caps bears focus on the close
below $1.8500 needed to confirm focus on $1.7688-1.8097 where the 200-DMA and
monthly lows are situated.

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