NYMEX HO: (N18) Bulls Need Close Above....>

OIL TECHS: NYMEX HO: (N18) Bulls Need Close Above 55-DMA

*RES 4: $2.2168 - Hourly resistance May 31

*RES 3: $2.1917 - Hourly resistance June 1

*RES 2: $2.1837 - 21-DMA

*RES 1: $2.1435 - 55-DMA

*PRICE: $2.1213 @ 0430GMT

*SUP 1: $2.0939 - Hourly resistance June 15 now support

*SUP 2: $2.0658 - Low June 18

*SUP 3: $2.0523 - 100-DMA

*SUP 4: $2.0344 - Low Apr 11

*COMMENTARY: Support emerging ahead of the 100-DMA has seen the contract recover

lost ground Monday with pressure back on the 55-DMA. Bulls now need a close

above the 55-DMA to ease bearish pressure and above $2.1917 to confirm a break

of the 21-DMA and shift focus back to $2.2168-2467. While the 55-DMA caps bears

retain focus on $2.0344-0523 where the 100-DMA is noted and need a close below

$2.0939 to add weight to their case.