NYMEX HO: (U18) Looking To Retest.........>

OIL TECHS: NYMEX HO: (U18) Looking To Retest Late-July Highs 

*RES 4: $2.1834 - High July 27 

*RES 3: $2.1791 - High July 31 

*RES 2: $2.1590 - Low July 30 now resistance 

*RES 1: $2.1442 - High August 3 

*PRICE: $2.1348 @ 0550GMT 

*SUP 1: $2.0867 - Low August 2 

*SUP 2: $2.0718 - Low July 19 

*SUP 3: $2.0490 - Low July 18 

*SUP 4: $2.0420 - Daily bear channel bottom 

The short-term picture has turned slightly bullish following the recovery late

last week and bull flag appears to be forming from the May 22 highs. In the

short-term, Friday's high of $2.1442 is the first hurdle for the bulls to

overcome as they seek to target the late-July highs initially and bear channel

resistance. On the downside, bears need a close below the August 2 low to retest

the bear channel bottom.