NYMEX HO: (Q18) 55-DMA Resistance Key.....>

OIL TECHS: NYMEX HO: (Q18) 55-DMA Resistance Key Today

*RES 4: $2.1913 - High June 13

*RES 3: $2.1570 - 55-DMA

*RES 2: $2.1482 - 21-DMA

*RES 1: $2.1463 - Low June 13 now resistance

*PRICE: $2.1382 @ 0430GMT

*SUP 1: $2.1255 - Hourly support June 26

*SUP 2: $2.0868 - Daily Bull channel base off Feb low

*SUP 3: $2.0689 - Low June 18

*SUP 4: $2.0566 - 100-DMA

*COMMENTARY: The daily bull channel base continues to support on dips with

pressure back on the $2.1463-1570 resistance region where the 21 & 55-DMAs are

noted. Bulls still need a close above the 55-DMA to ease bearish pressure and

above $2.1913 to shift focus back to $2.2421-2960. Initial support is noted at

$2.1255 with bears needing a close below to gain breathing room and below

$2.0312 to confirm a break of the 100-DMA and focus on $1.9428-1.9920.