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NYMEX HO: (U17$1.6094 Resistance Key......>

OIL TECHS
OIL TECHS: NYMEX HO: (U17$1.6094 Resistance Key Today
*RES 4: $1.6454 - Monthly High May 25
*RES 3: $1.6313 - Daily Bull channel top 
*RES 2: $1.6094 - Low May 23 now resistance
*RES 1: $1.6028 - 200-DMA
*PRICE: $1.6021 @ 0430GMT
*SUP 1: $1.5921 - Hourly support July 26 
*SUP 2: $1.5712 - Low July 26 
*SUP 3: $1.5574 - High July 21 now support
*SUP 4: $1.5367 - High July 24 now support
*COMMENTARY: Bulls take comfort in Wednesday's rally that resulted in a close
above the daily bear channel top ($1.5853) and pressure on the 200-DMA. Bulls
need a close above $1.6094 to confirm a break of the 200-DMA and shift immediate
focus to $1.6313-1.6454. Bears need a close below $1.5921 to gain breathing room
and below $1.5712 to shift focus back to $1.5158-1.5367 where the 21 & 100-DMAs
and bull channel base are located.

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