NYMEX WTI: (N18) Focus On 63.87-65.38.....>

OIL TECHS: NYMEX WTI: (N18) Focus On 63.87-65.38

*RES 4: $69.57 - Hourly resistance May 25 

*RES 3: $68.30 - Hourly support May 25 now resistance 

*RES 2: $67.96 - Hourly resistance May 25 

*RES 1: $66.78 - 55-DMA

*PRICE: $66.28 @ 0310GMT

*SUP 1: $65.38 - Low Apr 17 

*SUP 2: $64.48 - 100-DMA 

*SUP 3: $63.87 - High Apr 5 

*SUP 4: $61.73 - Monthly Low Apr 6

*COMMENTARY: Hesitation around the daily bull channel top provided the impetus

for an aggressive break of $70.24 Friday. Focus has shifted to the $63.87-65.38

support region with the contract currently trading below the 55-DMA. Bears now

look for a close below $63.87 to confirm a break of the 100-DMA and initially

target $61.73 Apr lows. Bulls now need a close above $67.42 to gain breathing

room and above $68.30 to shift focus back to the 21-DMA ($70.09).