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NYMEX HO (M19) 55-DMA Back In Focus ......>

OIL TECHS
OIL TECHS: NYMEX HO (M19) 55-DMA Back In Focus 
*RES 4: $2.2125 - Low Oct 24, 2018 
*RES 3: $2.1852 - High Nov 8, 2018 
*RES 2: $2.1690 - Channel top 
*RES 1: $2.1377 - High May 16 
*PRICE: $2.0788 @ 05:24 GMT May 21 
*SUP 1: $2.0690 - Low May 120
*SUP 2: $2.0398/0209 - 55-dma/Low May 7 
*SUP 3: $1.9660 - 100-dma
*SUP 4: $1.9417 - Low Mar 8
Heating oil futures are on the back foot as the pullback off Thursday's high
extends allowing bears to now eye the 55-dma and May 7 low at $2.0398/0209. A
break would build downside momentum towards the 100-dma at $1.9660. Bulls look
to recover Thursday's high at $2.1377. Above here would bring channel resistance
into focus at $2.1690, while a break above here would build momentum opening the
Nov 8 high/Oct 24 low at $2.1852/2125.

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