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

OIL TECHS
OIL TECHS: NYMEX HO: (U18) Bulls Need Close Above $2.1224
*RES 4: $2.1740 - 55-DMA
*RES 3: $2.1615 - Low July 6 now resistance
*RES 2: $2.1431 - 21-DMA
*RES 1: $2.1224 - High July 20
*PRICE: $2.1057 @ 0430GMT
*SUP 1: $2.0888 - Low July 20
*SUP 2: $2.0713 - Low July 19
*SUP 3: $2.0474 - Low July 18
*SUP 4: $2.0314 - Low Apr 11
*COMMENTARY: The sell-off last week found support around the weekly bull channel
base ($2.0620) off 2017 lows before recovering lost ground Friday. Bulls now
need a close above $2.1224 to confirm an easing of bearish pressure and 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 $2.0888 to reconfirm focus on
$2.0314-0713.

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