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OIL TECHS: NYMEX WTI: (N18) Bulls Need Close Above $67.34
*RES 4: $68.67 - High May 30
*RES 3: $68.17 - Hourly resistance May 31
*RES 2: $67.34 - High June 1
*RES 1: $66.04 - Hourly resistance June 1
*PRICE: $65.53 @ 2130GMT
*SUP 1: $63.87 - High Apr 5
*SUP 2: $61.73 - Monthly Low Apr 6
*SUP 3: $59.45 - 200-DMA
*SUP 4: $59.23 - Monthly Low Mar 1
*COMMENTARY: Losses to start the new week see the contract flirting with the
100-DMA ($64.73). Bears now look for a close below $63.87 to shift initial focus
to $61.73 and overall focus to $56.93-59.44 where the 200-DMA and Feb lows are
noted. Layers of resistance are weighing despite daily studies at O/S levels.
Bulls now need a close above $67.34 to confirm a break of the 55-DMA ($67.26)
and gain breathing room and above $68.67 to shift focus higher.