NYMEX HO: (V18) Above 55-DMA To Shift.....>

OIL TECHS: NYMEX HO: (V18) Above 55-DMA To Shift Focus Higher

*RES 4: $2.1776 - 55-DMA

*RES 3: $2.1597 - High July 13

*RES 2: $2.1492 - 21-DMA

*RES 1: $2.1321 - Hourly resistance July 24

*PRICE: $2.1264 @ 0430GMT

*SUP 1: $2.1060 - Low July 23

*SUP 2: $2.0935 - Low July 20

*SUP 3: $2.0761 - Low July 19

*SUP 4: $2.0541 - Low July 18

*COMMENTARY: The 21-DMA capped to start the new week with the 55-DMA remaining

key resistance this week. Bulls need a close above the 55-DMA to shift initial

focus back to $2.2295-2.2448 where the bear channel top is noted. Bears now look

for a close below $2.1060 to gain breathing room and below $2.0935 to shift

focus back to $2.0312-0541 where the bear channel base is located. Daily studies

correcting from O/S are a concern for bears.