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NYMEX HO: (V17) Below $1.6051 To Ease.....>

OIL TECHS
OIL TECHS: NYMEX HO: (V17) Below $1.6051 To Ease Bullish Pressure
*RES 4: $1.7084 - Monthly High Apr 12
*RES 3: $1.6814 - High Aug 10
*RES 2: $1.6728 - Daily Bull channel top
*RES 1: $1.6548 - High Aug 14
*PRICE: $1.6340 @ 0430GMT
*SUP 1: $1.6289 - Hourly support Aug 23
*SUP 2: $1.6201 - Hourly resistance Aug 23 now support
*SUP 3: $1.6144 - Alternating hourly support/resistance 
*SUP 4: $1.6051 - High Aug 22 now support
*COMMENTARY: Time spent below the 200-DMA was short with the close above $1.6144
confirming a break above the 200-DMA ($1.6133). The break of $1.6330 that
followed now sees bulls focused on the $1.6548-1.6814 region where the bear
channel top and Aug high are noted. Layers of support are accumulating with
bears looking for a close below $1.6051 to ease bullish pressure and return
focus to $1.5380-1.5722.

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