NYMEX HO: (U18) Key Support Levels........>

OIL TECHS: NYMEX HO: (U18) Key Support Levels Coming Into Focus

*RES 4: $2.2387 - High July 10 

*RES 3: $2.1953 - Daily bear channel top 

*RES 2: $2.1834 - High July 27 

*RES 1: $2.1786 - High Aug 14 

*PRICE: $2.0967 @ 03:44 GMT 

*SUP 1: $2.0760 - Low Aug 15 

*SUP 2: $2.0490 - Low July 18 

*SUP 3: $2.0367 - 200-DMA 

*SUP 4: $2.0220 - Daily bear channel bottom 

The picture continues to look bearish as the downward trend channel remains

intact and intraday rallies continue to lack staying power. A break below the

August 15 low of $2.0760 would put the focus on the July 18 low and bear channel

support, as well as the 200-dma. A break below these levels would shift the

medium-term picture decidedly bearish.  Bulls need a break above the August 14

high of $$2.1786 to shift the focus higher and challenge the bear channel top.