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NYMEX HO: (X17) $1.7927-1.8124............>

OIL TECHS: NYMEX HO: (X17) $1.7927-1.8124 Resistance Region Key
*RES 4: $1.8124 - High Oct 2
*RES 3: $1.7927 - Hourly support Oct 2 now resistance
*RES 2: $1.7864 - Hourly resistance Oct 2a
*RES 1: $1.7855 - 21-DMA
*PRICE: $1.7763 @ 0330GMT
*SUP 1: $1.7635 - Hourly support Oct 4
*SUP 2: $1.7472 - Hourly support Oct 4a
*SUP 3: $1.7382 - Low Oct 4
*SUP 4: $1.7145 - Daily Bull channel base
*COMMENTARY: Continued hesitation ahead of the daily bull channel top took its
toll with the close below the 21-DMA seeing bears focused on the daily bull
channel base. Bears now look for a close below $1.6829 to confirm a break of the
55-DMA ($1.6915) and channel base and to shift focus to $1.6106-1.6367 where 100
& 200-DMAs are noted. Bulls now need a close above $1.7927 to gain breathing
room and above $1.8124 to shift focus higher.

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