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NYMEX WTI: (N18) $70.24 Support Key.......>

OIL TECHS
OIL TECHS: NYMEX WTI: (N18) $70.24 Support Key This Week
*RES 4: $74.58 - Weekly Bull channel top 
*RES 3: $73.25 - Low Nov 11 2014 now resistance 
*RES 2: $72.74 - Daily Bull channel top 
*RES 1: $72.37 - 2018 High May 17
*PRICE: $71.89 @ 0310GMT
*SUP 1: $71.09 - Low May 17 
*SUP 2: $70.24 - Low May 14 
*SUP 3: $69.69 - 21-DMA 
*SUP 4: $67.57 - Low May 8
*COMMENTARY: Pressure remained on the daily bull channel top last week with
bulls currently focused on the $73.25-74.58 region where the weekly bull channel
top is located. O/B studies and daily momentum divergence are key concerns for
bulls. In saying that, bears now need a close below $71.09 to gain breathing
room and below $70.24 to shift initial focus back to $66.88-67.57.

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