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NYMEX WTI: (M18) Looking A Little Heavy...>

OIL TECHS
OIL TECHS: NYMEX WTI: (M18) Looking A Little Heavy
*RES 4: $74.36 - Weekly Bull channel top 
*RES 3: $73.25 - Low Nov 11 2014 now resistance 
*RES 2: $71.97 - Daily Bull channel top 
*RES 1: $70.77 - Hourly support May 11 now resistance
*PRICE: $70.46 @ 0430GMT
*SUP 1: $69.51 - Alternating hourly support/resistance 
*SUP 2: $69.12 - Hourly resistance May 8 now support 
*SUP 3: $68.76 - 21-DMA 
*SUP 4: $68.34 - Hourly support May 8
*COMMENTARY: M18 is looking a little offered to start the new week with daily
studies looking to correct from modestly O/B seen weighing. Hesitation around
the daily bull channel top combined with Friday's sell-off see focus on
$66.85-68.76 where the 21-DMA is noted. Below $66.85 is needed to shift focus to
$64.10-65.59 with the 55-DMA at $65.28. Bulls now need a close above $71.97 to
reconfirm focus on $73.25-74.36.

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