NYMEX WTI: (N18) Targeting Correction.....>

OIL TECHS: NYMEX WTI: (N18) Targeting Correction Back to 21-DMA

*RES 4: $71.09 - Low May 18 now resistance 

*RES 3: $70.15 - 21-DMA 

*RES 2: $69.57 - Hourly resistance May 25 

*RES 1: $68.67 - High May 30

*PRICE: $68.05 @ 0430GMT

*SUP 1: $68.03 - Hourly support May 30 

*SUP 2: $67.42 - Alternating daily support/resistance 

*SUP 3: $66.35 - Low May 30 

*SUP 4: $65.80 - Low May 28

*COMMENTARY: Having found support on the dip below the bull channel base off Feb

lows bulls take comfort in the close above $67.42 that provides breathing room

and increases the risk of a correction back to the 21-DMA. Bulls now need a

close above $71.09 to confirm a break of the 21-DMA and return initial focus to

2018 highs $72.90). Bears now need a close below $65.38 to pressure the 100-DMA

($64.64).