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OIL TECHS: NYMEX WTI: (N18) Flirting With 100-DMA
*RES 4: $68.17 - Hourly resistance May 31
*RES 3: $67.34 - High June 1
*RES 2: $66.04 - Hourly resistance June 1
*RES 1: $65.27 - Hourly support June 4 now resistance
*PRICE: $65.09 @ 0310GMT
*SUP 1: $63.87 - High Apr 5
*SUP 2: $61.73 - Monthly Low Apr 6
*SUP 3: $59.44 - 200-DMA
*SUP 4: $59.23 - Monthly Low Mar 1
*COMMENTARY: Losses to start the new week ensure the contact remains offered as
it now flirts 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 gain breathing
room and above $68.67 to shift focus higher.