NYMEX HO: (K18) Bears Focused On DMAs.....>

OIL TECHS: NYMEX HO: (K18) Bears Focused On DMAs

*RES 4: $2.0728 - Monthly High Feb 2

*RES 3: $2.0485 - High Mar 27

*RES 2: $2.0229 - Hourly support Apr 2 now resistance

*RES 1: $2.0043 - Hourly resistance Apr 2

*PRICE: $1.9885 @ 0430GMT

*SUP 1: $1.9611 - 55-DMA

*SUP 2: $1.9446 - 100-DMA

*SUP 3: $1.9144 - Low Mar 20

*SUP 4: $1.8857 - Low Mar 15

*COMMENTARY: Continued topside hesitation has taken its toll with correcting O/B

studies seen weighing as focus returns to key DMAs. Bears look for a close below

the 100-DMA to end bullish hopes and shift initial focus to $1.9147. Layers of

resistance accumulating are adding weight to the bearish case. Bulls now need a

close above $2.0043 to gain breathing room and above $2.0229 to shift focus to

$2.0485-0895.