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

OIL TECHS
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.

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