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NYMEX HO: (M18) $2.0425 Support Key.......>

OIL TECHS
OIL TECHS: NYMEX HO: (M18) $2.0425 Support Key
*RES 4: $2.2024 - Daily Bull channel top
*RES 3: $2.1362 - 2018 High Jan 26 (cont)
*RES 2: $2.1105 - High Apr 11
*RES 1: $2.0980 - Hourly resistance Apr 16
*PRICE: $2.0736 @ 0430GMT
*SUP 1: $2.0561 - Low Apr 13
*SUP 2: $2.0425 - Low Apr 11
*SUP 3: $2.0066 - 21-DMA
*SUP 4: $1.9573 - 55-DMA
*COMMENTARY: Hesitation ahead of last week's high is a concern to start the new
week. In saying that, bulls remain focused on $2.2362-2.2024 where 2018 highs
and the bull channel top are located. The Bollinger top ($2.1041) remains the
key concern for bulls. Bears continue to look for a close below $2.0425 to shift
focus back to $1.9456-2.00669 where 21, 55 & 100-DMAs are located. Overall bears
need a close below the bull channel base ($1.9045) to target $1.8083-1.8506.

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