NYMEX HO: (Q18) $2.2196-2.2421............>

OIL TECHS: NYMEX HO: (Q18) $2.2196-2.2421 Resistance Region Key

*RES 4: $2.2202 - Bollinger band top

*RES 3: $2.2196 - High June 29

*RES 2: $2.2022 - High July 5

*RES 1: $2.1881 - Hourly resistance July 5

*PRICE: $2.1762 @ 0430GMT

*SUP 1: $2.1558 - Low July 6

*SUP 2: $2.1506 - 21-DMA

*SUP 3: $2.1412 - Low July 3

*SUP 4: $2.1255 - Hourly support June 26

*COMMENTARY: The recovery from the dip back to $2.0689 stalled ahead of the

$2.2421 resistance and dipped below the 21-DMA Tuesday. Bears look for a close

below $2.1255 to confirm breaks of 21 & 55 ($2.1711) DMAs and to shift focus

back to $2.0689-1078 where the bull channel base off Feb lows and the 100-DMA

($2.0771) are situated. Bulls need a close above $2.2196 to gain breathing room

and above $2.2421 to return focus to 2018 highs.