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NYMEX WTI: (Q18) Bears Need Close Below...>

OIL TECHS
OIL TECHS: NYMEX WTI: (Q18) Bears Need Close Below 55-DMA
*RES 4: $72.70 - Monthly High May 22 
*RES 3: $70.86 - Low May 18 now resistance 
*RES 2: $69.44 - High June 25 
*RES 1: $68.50 - Bollinger band top
*PRICE: $68.19 @ 2130GMT
*SUP 1: $67.66 - 55-DMA 
*SUP 2: $66.21 - 21-DMA 
*SUP 3: $66.10 - Hourly support June 22 
*SUP 4: $65.19 - Hourly resistance June 21 now support
*COMMENTARY: Hesitation ahead of the 21-DMA came to an end with an aggressive
rally Friday and bullish close that ended bearish hopes and sees immediate focus
now on $70.86-72.70. The Bollinger top is the key concern for bulls and limits
follow through. Bears now need a close below the 55-DMA to gain breathing room
and below the 21-DMA to shift initial focus back to $63.40-52 where a bull
channel base is located.

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