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NYMEX HO: (U18) Closes Above 55-DMA.......>

OIL TECHS
OIL TECHS: NYMEX HO: (U18) Closes Above 55-DMA
*RES 4: $2.2388 - High July 10
*RES 3: $2.2152 - Daily bear channel top off May 22 high
*RES 2: $2.2042 - Low July 10 now resistance
*RES 1: $2.1857 - High July 26
*PRICE: $2.1783 @ 0430GMT
*SUP 1: $2.1662 - Hourly resistance July 26 now support
*SUP 2: $2.1534 - Hourly support July 25
*SUP 3: $2.1346 - Low July 25
*SUP 4: $2.1177 - Hourly support July 23
*COMMENTARY: Bulls take comfort in the close above the 55-DMA ($2.1738) that now
sees focus on the $2.2042-2474 resistance region where the bear channel top off
May 22 highs is located. Initial support is now noted at $2.1662 but bears
continue to look for a close below $2.1534 gain breathing room and below $2.1346
to shift focus back to $2.0314-1.1003.

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