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NYMEX HO: (M18) Bears Need Close Below....>

OIL TECHS
OIL TECHS: NYMEX HO: (M18) Bears Need Close Below $2.1186
*RES 4: $2.3257 - Low Nov 14 2014 now resistance
*RES 3: $2.2117 - High Dec 1 2014
*RES 2: $2.1538 - Bollinger band top
*RES 1: $2.1430 - 2018 High Apr 23
*PRICE: $2.1373 @ 0430GMT
*SUP 1: $2.1244 - High Apr 19 now support
*SUP 2: $2.1186 - High Apr 20 now support
*SUP 3: $2.0923 - Low Apr 23
*SUP 4: $2.0796 - Low Apr 20
*COMMENTARY: Support emerging on Friday's dip was followed with gains Monday and
fresh 2018 & 3+yr highs with bulls now focused on $2.2117 Dec 1 highs. Daily
momentum divergence, the proximity of the Bollinger band top and O/B studies are
key concerns for bulls. In saying that, bears now need a close below $2.1186 to
ease bullish pressure and below $2.0796 to shift initial focus back to
$2.0414-0521 where the 21-DMA is situated.

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