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NYMEX HO: (M18) Bulls Focused On..........>

OIL TECHS
OIL TECHS: NYMEX HO: (M18) Bulls Focused On $2.2420-3514
*RES 4: $2.4781 - High Nov 12 2014 (Cont)
*RES 3: $2.4358 - High Nov 21 2014 (Cont)
*RES 2: $2.3514 - 2015 High Feb 27 2015
*RES 1: $2.2420 - Daily Bull channel top
*PRICE: $2.2031 @ 0430GMT
*SUP 1: $2.1836 - Hourly support May 8
*SUP 2: $2.1549 - Hourly resistance May 8 now support
*SUP 3: $2.1306 - Hourly support May 8
*SUP 4: $2.1192 - 21-DMA
*COMMENTARY: Support emerging on dips back towards the 21-DMA continues to
provide the impetus for fresh 2018 & 3+Yr highs. Bulls reconfirm dominance and
focus on $2.2420-3514 where the bull channel top is located. Bears now look for
a close below $2.1549 to gain breathing room and below the 21-DMA now to hint at
a move back to $2.0414. The Bollinger top ($2.1940) is the key concern for bulls
and currently caps.

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