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

OIL TECHS: NYMEX HO: (M18) Bears Need Close Below $2.0796

*RES 4: $2.1912 - Bollinger band top

*RES 3: $2.1726 - 2018 High Apr 30

*RES 2: $2.1537 - High May 1

*RES 1: $2.1253 - High May 2

*PRICE: $2.1164 @ 0430GMT

*SUP 1: $2.0910 - Low May 1

*SUP 2: $2.0849 - 21-DMA

*SUP 3: $2.0796 - Low Apr 20

*SUP 4: $2.0414 - Low Apr 17

*COMMENTARY: The lack of topside follow through on 2018 & 3+yr highs is a

concern for bulls given daily momentum divergence, correcting O/B studies and

the Bollinger top capping. Bears now look for a close below $2.0796 to confirm

an easing of bullish pressure and below $2.0414 to shift focus to $1.9804-1.9975

where 55 & 100-DMAs are noted. Bulls now need a close above $2.1726 to reconfirm

overall focus on $2.2117-3257 where levels seen late 2014 are situated.