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NYMEX WTI: (N18) Bears Need Close Below...>

OIL TECHS
OIL TECHS: NYMEX WTI: (N18) Bears Need Close Below 21-DMA
*RES 4: $73.25 - Low Nov 11 2014 now resistance 
*RES 3: $73.11 - Daily Bull channel top 
*RES 2: $72.90 - 2018 High May 22 
*RES 1: $72.26 - High May 23
*PRICE: $71.66 @ 0430GMT
*SUP 1: $71.09 - Low May 17 
*SUP 2: $70.24 - Low May 14 
*SUP 3: $70.23 - 21-DMA 
*SUP 4: $67.57 - Low May 8
*COMMENTARY: Hesitation around the daily bull channel top is less than ideal for
bulls with daily studies correcting from O/B. The 21-DMA remains key support.
Bears continue to look for a close below the 21-DMA to end bullish hopes and
shift focus back to $65.38-67.57 where the bull channel base and 55-DMA are
located. Bulls remain focused on $73.25-74.58 while the 21-DMA supports with a
close above $72.90 to add support.

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