NYMEX HO: (U18) 55-DMA Remains Key........>

OIL TECHS: NYMEX HO: (U18) 55-DMA Remains Key Resistance

*RES 4: $2.2388 - High July 10

*RES 3: $2.2171 - Daily bear channel top off May 22 high

*RES 2: $2.2042 - Low July 10 now resistance

*RES 1: $2.1741 - 55-DMA

*PRICE: $2.1678 @ 0430GMT

*SUP 1: $2.1534 - Hourly support July 25

*SUP 2: $2.1346 - Low July 25

*SUP 3: $2.1177 - Hourly support July 23

*SUP 4: $2.1003 - Low July 23

*COMMENTARY: The sell-off last week found support around the weekly bull channel

base ($2.0635) off 2017 lows before recovering lost ground Friday. The recovery

continues with bulls needing a close above the 55-DMA to shift initial focus

back to $2.2042-2.2474 where the bear channel top is noted. Bears now need a

close below $2.1534 gain breathing room and below $2.1346 to shift focus back to

$2.0314-1.1003.