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NYMEX HO: (J18) Above $2.0346 To Target...>

OIL TECHS
OIL TECHS: NYMEX HO: (J18) Above $2.0346 To Target $2.0880-2.1098
*RES 4: $2.1098 - 2018 High Jan 26
*RES 3: $2.0880 - High Feb 2
*RES 2: $2.0346 - High Feb 5
*RES 1: $2.0044 - High Feb 6
*PRICE: $1.9890 @ 0430GMT
*SUP 1: $1.9793 - 55-DMA
*SUP 2: $1.9573 - 21-DMA
*SUP 3: $1.9370 - Low Feb 23
*SUP 4: $1.9169 - 100-DMA
*COMMENTARY: J18 is gaining traction above 55 & 21-DMAs with the $2.0044-2.0346
resistance region now key. Bulls need a close above $2.0346 to confirm a return
in initial focus to $2.0880-2.1098 where 2018 highs are situated. Layers of
support are accumulating and adding to bullish confidence. Bears still need a
close below $1.9370 to ease bullish pressure and below the 100-DMA to reconfirm
focus on $1.8097-1.8541.

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