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NYMEX HO: (K18) $2.0485 Support Key.......>

OIL TECHS
OIL TECHS: NYMEX HO: (K18) $2.0485 Support Key
*RES 4: $2.2113 - Daily Bull channel top
*RES 3: $2.1362 - 2018 High Jan 26 (cont)
*RES 2: $2.1227 - High Apr 11
*RES 1: $2.1035 - High Apr 12
*PRICE: $2.0764 @ 0430GMT
*SUP 1: $2.0689 - Low Apr 12
*SUP 3: $2.0485 - High Mar 27 now support
*SUP 4: $2.0094 - Hourly resistance Apr 10 now support
*SUP 4: $1.9911 - High Apr 6 now support
*COMMENTARY: The recovery from tests of the 100-DMA ($1.9547) sees bulls firmly
focused on $2.1362-2113 where the daily bull channel top & 2018 highs are
located. Daily studies are well placed although the Bollinger top ($2.1045) is
the key concern. Bears continue to look for a close below $2.0485 to shift focus
back to $1.9547-1.9911 where key DMAs are located. Daily studies have room to
move before O/B is an issue.

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