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: $67.42 - Low May 25 now resistance

*PRICE: $66.50 @ 0310GMT

*SUP 1: $65.80 - Low May 28

*SUP 2: $65.38 - Low Apr 17 

*SUP 3: $64.54 - 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 need a close above $67.42 to gain breathing room and above

$68.30 to shift focus back to the 21-DMA ($70.02).