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NYMEX HO: (U17) Recovers From Dip Below...>

OIL TECHS
OIL TECHS: NYMEX HO: (U17) Recovers From Dip Below 200-DMA
*RES 4: $1.6643 - Hourly resistance Aug 10a
*RES 3: $1.6512 - High Aug 14
*RES 2: $1.6228 - Hourly support Aug 14 now resistance
*RES 1: $1.6118 - High Aug 15
*PRICE: $1.6096 @ 0430GMT
*SUP 1: $1.5935 - Hourly support Aug 15
*SUP 2: $1.5829 - Low Aug 15 
*SUP 3: $1.5712 - Low July 26
*SUP 4: $1.5457 - 100-DMA
*COMMENTARY: Pressure on the 200-DMA ($1.6021) resulted in a dip back towards
the $1.5712 support before bouncing to close above the 200-DMA. The $1.6228
resistance is key today with bulls needing a close above to return focus to
$1.6512-1.6803. A close above $1.6803is needed to reconfirm the bullish bias.
Bears continue to look for a close below $1.5712 to confirm focus on 55 &
100-DMAs $1.5185-1.5457.

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