NYMEX HO: (M18) Above $2.0836 To Gain.....>

OIL TECHS: NYMEX HO: (M18) Above $2.0836 To Gain Breathing Room

*RES 4: $2.1362 - 2018 High Jan 26 (cont)

*RES 3: $2.1105 - High Apr 11

*RES 2: $2.0980 - High Apr 16

*RES 1: $2.0836 - Hourly resistance Apr 16

*PRICE: $2.0602 @ 0430GMT

*SUP 1: $2.0414 - Low Apr 17

*SUP 2: $2.0192 - 21-DMA

*SUP 3: $1.9975 - High Apr 9 now support

*SUP 4: $1.9529 - 100-DMA

*COMMENTARY: The marginal break of $2.0425 lacked follow through with bears now

looking for a close below $2.0414 to add weight to the case for a correction

back to $1.9456-1.9571 where 55 & 100-DMAs are located. Correcting modestly O/B

daily studies are seen weighing. Bulls now need a close above $2.0836 to gain

breathing room and above $2.1105 to reconfirm focus on $2.1362-2.2070 where 2018

highs and the bull channel top are located.