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OIL TECHS: NYMEX HO: (X17) Below $1.6829 To Shift Focus Lower
*RES 4: $1.7755 - Hourly support Oct 6 now resistance
*RES 3: $1.7683 - Low Oct 5 now resistance
*RES 2: $1.7570 - Hourly resistance Oct 6
*RES 1: $1.7435 - High Oct 9
*PRICE: $1.7391 @ 0330GMT
*SUP 1: $1.7279 - Daily Bull channel base
*SUP 2: $1.7203 - Low Oct 9
*SUP 3: $1.7152 - Bollinger band base
*SUP 4: $1.7121 - Low Sept 11
*COMMENTARY: The lack of follow through on Thursday's bounce resulted in a
sell-off and bearish close Friday that sees pressure on the daily bull channel
base. Overall the $1.6829 support is key with bears needing a close below to
shift focus to $1.6144-1.6366 where100 & 200-DMAs are located. Layers of
resistance are weighing with bulls needing a close above $1.7570 to gain
breathing room and above $1.7755 to shift pressure back to $1.8127.