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NYMEX HO: (X17) Above $1.8127 To Shift....>

OIL TECHS
OIL TECHS: NYMEX HO: (X17) Above $1.8127 To Shift Focus Higher
*RES 4: $1.8267 - Hourly resistance Sept 28
*RES 3: $1.8127 - High Oct 5
*RES 2: $1.7966 - High Oct 6
*RES 1: $1.7883 - 21-DMA
*PRICE: $1.7766 @ 0330GMT
*SUP 1: $1.7489 - Low Oct 12
*SUP 2: $1.7414 - Daily Bull channel base
*SUP 3: $1.7339 - Low Oct 10
*SUP 4: $1.7203 - Low Oct 9
*COMMENTARY: Bulls take comfort from support emerging on dips back towards the
daily bull channel base that provided the catalyst for a bounce with pressure
back on the 21-DMA. Bulls look for a close above $1.8127 to confirm a break of
the 21-DMA and return immediate focus to tests of $1.8586 Sept highs. Correcting
O/S studies add support to the bullish case. The $1.7489 support is key today
with bears needing a close below to ease pressure on the 21-DMA.

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