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OIL TECHS: NYMEX HO: (V17) $1.6051-1.6144 Support Region Key
*RES 4: $1.7084 - Monthly High Apr 12
*RES 3: $1.6814 - High Aug 10
*RES 2: $1.6719 - Daily Bear channel top
*RES 1: $1.6590 - High Aug 25
*PRICE: $1.6460 @ 0430GMT
*SUP 1: $1.6411 - Hourly support Aug 25
*SUP 2: $1.6325 - Hourly resistance Aug 25 now support
*SUP 3: $1.6144 - Alternating hourly support/resistance
*SUP 4: $1.6051 - High Aug 22 now support
*COMMENTARY: Bulls continue to capitalise on Wednesday's close above the 200-DMA
with a dip back towards the 200-DMA supported and seeing bulls focused on
$1.6719-1.6814 where Aug highs and the bear channel top are located. The
$1.6051-1.6144 support region remains key. Bears need a close below $1.6144 to
ease bullish pressure and below $1.6051 to shift focus back to $1.5380-1.5722.