NYMEX HO: (U18) Testing Top of Range......>

OIL TECHS: NYMEX HO: (U18) Testing Top of Range

*RES 4: $2.2387 - High July 10 

*RES 3: $2.1970 - Daily bear channel top 

*RES 2: $2.1834 - High July 27 

*RES 1: $2.1752 - High August 8 

*PRICE: $2.1488 @ 07:22 GMT 

*SUP 1: $2.0867 - Low August 2 

*SUP 2: $2.0490 - Low July 18

*SUP 3: $2.0277 - 200-DMA

*SUP 4: $2.0220 - Daily bear channel bottom 

Stability from the end of last week has continued into this week, allowing a

test of the upper end of the initial descending channel. A break above the

initial 215.25 resistance will allow a test of the daily bear channel top at

2.1970. Continued failure at the 215.25 resistance will return the focus to the

downside and 210.00 ahead of the August 2 low at 2.0867.