NYMEX HO: (K18) Bears Need Close Below....>

OIL TECHS: NYMEX HO: (K18) Bears Need Close Below 100-DMA

*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: $1.9711 @ 0430GMT

*SUP 1: $1.9557 - 21-DMA

*SUP 2: $1.9459 - 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 and providing the impetus for a dip back to the 100-DMA.

Bears look for a close below the 100-DMA to end bullish hopes and shift initial

focus to $1.9147. Layers of resistance in place add weight to the bearish case.

Bulls need a close above $2.0043 to gain breathing room and above $2.0229 to

shift focus to $2.0485-0895.