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

OIL TECHS
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: $67.04 - Hourly resistance May 28
*PRICE: $66.63 @ 2130GMT
*SUP 1: $65.80 - Low May 28 
*SUP 2: $65.38 - Low Apr 17 
*SUP 3: $64.48 - 100-DMA 
*SUP 4: $63.87 - High Apr 5
*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 flirting with 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 $67.04 to gain breathing room and above
$68.30 to shift focus back to the 21-DMA ($70.11).

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