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NYMEX WTI: (M18) Bulls Focused On.........>

OIL TECHS
OIL TECHS: NYMEX WTI: (M18) Bulls Focused On Channel Top
*RES 4: $74.16 - Weekly Bull channel top 
*RES 3: $73.25 - Low Nov 11 2014 now resistance 
*RES 2: $71.71 - Daily Bull channel top 
*RES 1: $70.84 - 2018 High May 7
*PRICE: $70.61 @ 0310GMT
*SUP 1: $69.51 - Alternating hourly support/resistance 
*SUP 2: $69.12 - Hourly resistance May 8 now support 
*SUP 3: $68.34 - Hourly support May 8 
*SUP 4: $67.63 - Low May 8
*COMMENTARY: The sharp sell-off was short lived and aggressively reversed
maintaining pressure on recent 2018 & 3+yr highs. Follow through has been
lacking courtesy of the Bollinger band top which is a concern with bulls
currently focused on the daily bull channel top. Bears now need a close below
$69.12 to gain breathing room and hint at a correction back towards
$66.85-67.63. A close below $66.85 is needed to shift focus to $64.10-65.59.

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