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NYMEX HO: (N18) $2.2467 Support Key.......>

OIL TECHS
OIL TECHS: NYMEX HO: (N18) $2.2467 Support Key Today
*RES 4: $2.4358 - High Nov 21 2014 (Cont)
*RES 3: $2.3514 - 2015 High Feb 27 2015
*RES 2: $2.2987 - High May 17
*RES 1: $2.2887 - Bollinger band top
*PRICE: $2.2707 @ 0430GMT
*SUP 1: $2.2467 - Low May 21
*SUP 2: $2.2258 - Low May 16
*SUP 3: $2.2029 - Low May 14
*SUP 4: $2.1951 - Daily Bull channel base
*COMMENTARY: Fresh 2018 & 3+yr highs continue as bulls remain focused on $2.3514
2015 highs. O/B studies and the Bollinger band top remain key concerns for
bulls. In saying that, bears now need a close below $2.2467 to gain breathing
room and below $2.1827 to confirm breaks of the 21-DMA and bull channel base,
shifting focus to $2.0774. Bulls look for a close above $2.2987 to add support
to their case.

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