NYMEX HO: (U17) $1.6228 Resistance Key....>

OIL TECHS: NYMEX HO: (U17) $1.6228 Resistance Key

*RES 4: $1.6142 - High Aug 16

*RES 3: $1.6021 - 200-DMA

*RES 2: $1.5904 - Hourly support Aug 16 now resistance

*RES 1: $1.5829 - Low Aug 15 now resistance

*PRICE: $1.5772 @ 0430GMT

*SUP 1: $1.5698 - Low Aug 16

*SUP 2: $1.5453 - 100-DMA 

*SUP 3: $1.5367 - High July 24 now support

*SUP 4: $1.5191 - 55-DMA

*COMMENTARY: Failure to trouble $1.6228 resulted in a sell-off and close below

the 200-DMA that sees bearish focus shift to $1.5367-1.5453 where the 100-DMA is

located. Overall bears need a close below $1.4910 to shift focus back to $1.3703

June lows. Initial resistance is noted at $1.5829 but bulls look for a close

above $1.5904 to gain breathing room and above $1.6228 to return focus to

$1.6512-1.6803. A close above $1.6803 is needed to reconfirm the bullish bias.