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OIL TECHS: NYMEX HO: (U18) $2.0737 Support Remains Key
*RES 4: $2.2042 - Low July 10 now resistance
*RES 3: $2.1771 - 55-DMA
*RES 2: $2.1615 - Low July 6 now resistance
*RES 1: $2.1502 - 21-DMA
*PRICE: $2.1348 @ 0430GMT
*SUP 1: $2.1164 - Hourly support July 13
*SUP 2: $2.0921 - 100-DMA, Daily Bull channel base
*SUP 3: $2.0737 - Monthly Low June 18
*SUP 4: $2.0314 - Low Apr 11
*COMMENTARY: The 100-DMA and daily bull channel base off Feb lows supported last
week returning pressure to the 21-DMA. Bulls now need a close above the 55-DMA
to ease bearish pressure and above $2.2471 to shift focus back to $2.2973 May
highs. Bears continue to look for a close below $2.0737 to confirm breaks of the
bull channel base and 100-DMA shifting immediate focus to $2.0314 support.