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NYMEX HO: (U18) $2.30 In Sight *RES 4:....>

OIL TECHS
OIL TECHS: NYMEX HO: (U18) $2.30 In Sight
*RES 4: $2.5000 - Bull channel top 
*RES 3: $2.4000 - Measured move from bull flag breakout 
*RES 2: $2.2970 - High May 22 
*RES 1: $2.2440 - High May 31 
*PRICE: $2.2483 @ 05:03 GMT 
*SUP 1: $2.1836 - High Jul 27 
*SUP 2: $2.1416 - High Aug 21 
*SUP 3: $2.0760 - Low Aug 15 
*SUP 4: $2.0490 - Low July 18 
The rally shows no sight of stalling as the May highs approach just shy of
$2.30. A bull flag breakout looks highly likely which would target $2.40 and
open the bull channel top at $2.50. On the downside, bears need to push back
below the July 10 highs to shift the outlook neutral again.

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