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NYMEX HO: (U18) Bulls Need Close Above....>

OIL TECHS
OIL TECHS: NYMEX HO: (U18) Bulls Need Close Above $2.1164
*RES 4: $2.2042 - Low July 10 now resistance
*RES 3: $2.1738 - 55-DMA
*RES 2: $2.1615 - Low July 6 now resistance
*RES 1: $2.1164 - Hourly support July 13 now resistance
*PRICE: $2.0951 @ 0430GMT
*SUP 1: $2.0713 - Low July 19
*SUP 2: $2.0474 - Low July 18, Bollinger band base
*SUP 3: $2.0314 - Low Apr 11, Daily Bear channel base
*SUP 4: $1.9925 - 200-DMA
*COMMENTARY: A bullish key day reversal Wednesday is concern for bears when
combined with daily studies correcting from O/S. Initial support is at $2.0713
with bears needing a close below to gain breathing room. Overall bears need a
close below $2.0314 to confirm focus on the 200-DMA. Bulls now look for a close
above $2.1164 to add support to the case for a test of $2.1412-1738 where 21 &
200-DMAs are noted. Above the 55-DMA hints at a move back to $2.2388-2474.

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