NYMEX HO: (N18) Gaining Traction Below....>

OIL TECHS: NYMEX HO: (N18) Gaining Traction Below 21-DMA

*RES 4: $2.2885 - Hourly resistance May 24

*RES 3: $2.2467 - Low May 21 now resistance

*RES 2: $2.2258 - Low May 16 now resistance

*RES 1: $2.2071 - 21-DMA

*PRICE: $2.1835 @ 0430GMT

*SUP 1: $2.1647 - Low May 28

*SUP 2: $2.0902 - 55-DMA

*SUP 3: $2.0884 - Bollinger band base

*SUP 4: $2.0774 - Low Apr 20

*COMMENTARY: The lack of topside follow through last week and hesitation ahead

of 2018 highs resulted in a sell-off that now sees the contract gaining traction

below the 21-DMA. Daily studies have room to move before O/S is an issue as

bears now focus on $2.0774-2.0902 where the 55-DMA is located. Bulls now look

for a close above the 21-DMA to gain breathing room and above $2.2467 to shift

focus back to 2018 highs.