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NYMEX HO: (V17) Focus On $1.7816-1.8138...>

OIL TECHS
OIL TECHS: NYMEX HO: (V17) Focus On $1.7816-1.8138
*RES 4: $1.7843 - Daily Bull channel top
*RES 3: $1.7816 - High Jan 6
*RES 2: $1.7596 - High Jan 17
*RES 1: $1.7534 - Hourly resistance Sept 1
*PRICE: $1.7440 @ 0430GMT
*SUP 1: $1.7234 - Hourly support Aug 31
*SUP 2: $1.7104 - Hourly support Aug 31a
*SUP 3: $1.6893 - High Aug 30 now support 
*SUP 4: $1.6624 - Low Aug 31
*COMMENTARY: Bulls reconfirmed dominance with an aggressive rally and bullish
close that sees focus on $1.7816-1.8138 where the bull channel top and 2017
highs are situated. The Bollinger top ($1.7185) is the key concern for bulls and
leaves the move looking a little overdone. In saying that, bears need a close
below $1.7104 to ease immediate bullish pressure and below $1.6893 to shift
focus back to $1.6051-1.6351.

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