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NYMEX HO: (V17) $1.6051 & $1.6814.........>

OIL TECHS
OIL TECHS: NYMEX HO: (V17) $1.6051 & $1.6814 Levels Key
*RES 4: $1.7084 - Monthly High Apr 12
*RES 3: $1.6814 - High Aug 10
*RES 2: $1.6778 - Falling daily TL
*RES 1: $1.6592 - High Aug 28
*PRICE: $1.6464 @ 0430GMT
*SUP 1: $1.6334 - Hourly resistance Aug 28 now support
*SUP 2: $1.6229 - Low Aug 28
*SUP 3: $1.6107 - Low Aug 25 
*SUP 4: $1.6051 - High Aug 22 now support
*COMMENTARY: The $1.6051-1.6107 support region is now key with bears needing a
close below $1.6051 to shift focus back to $1.5457-1.5722 where 55 & 100-DMAs
are located. Hesitation ahead of the $1.6814 resistance remains the key concern
for bulls. Bulls need a close above $1.6814 to initially target $1.7084 and then
the daily bull channel top ($1.7704).

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