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NYMEX WTI: (M18) Bears Need Close Below...>

OIL TECHS
OIL TECHS: NYMEX WTI: (M18) Bears Need Close Below 21-DMA
*RES 4: $70.63 - Bollinger band top 
*RES 3: $69.55 - 2018 High Apr 19 
*RES 2: $69.34 - High Apr 30 
*RES 1: $68.90 - High May 1
*PRICE: $68.43 @ 2130GMT
*SUP 1: $67.69 - Hourly resistance May 3 now support 
*SUP 2: $66.97 - 21-DMA 
*SUP 3: $65.09 - Low Apr 11 
*SUP 4: $64.10 - High Apr 5 now support
*COMMENTARY: The rejections ahead of 2018 highs are a concern for bulls when
combined with daily studies correcting from O/B and the proximity of the
Bollinger top. Bears look for a close below the 21-DMA to add weight to the case
for a correction back to $61.86-64.11 where the 55-DMA ($64.11) is noted. Bulls
continue to look for a close above $69.55 to reconfirm focus on $71.46-73.25
where the MT bull channel top is situated.

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