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

OIL TECHS: NYMEX HO: (M18) Bulls Focused On $2.2443-3514

*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: $2.2443 - Daily Bull channel top

*PRICE: $2.2280 @ 0430GMT

*SUP 1: $2.2045 - Hourly support May 9

*SUP 2: $2.1836 - Hourly support May 8

*SUP 3: $2.1549 - Hourly resistance May 8 now support

*SUP 4: $2.1306 - Hourly support May 8

*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 $2.2443-3514 where the bull channel top is located. Bears now look for

a close below $2.2045 to gain breathing room and below the 21-DMA ($2.1268) to

hint at a move back to $2.0414. The Bollinger top ($2.2157) is the key concern

for bulls.