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NYMEX HO: (X17) Topside Follow Through....>

OIL TECHS
OIL TECHS: NYMEX HO: (X17) Topside Follow Through Lacking
*RES 4: $1.8353 - Bollinger band top
*RES 3: $1.8138 - 2017 High Jan 3
*RES 2: $1.7960 - High Sept 18
*RES 1: $1.7876 - Hourly resistance Sept 18
*PRICE: $1.7752 @ 0430GMT
*SUP 1: $1.7683 - Hourly resistance Sept 19 now support
*SUP 2: $1.7534 - Low Sept 19
*SUP 3: $1.7319 - Hourly support Sept 13
*SUP 4: $1.7127 - 21-DMA
*COMMENTARY: Topside follow through was lacking on fresh 8mth highs Monday which
is a concern when combined with daily momentum divergence and daily studies
correcting from O/B. Layers of support remain with bears now needing a close
below $1.7534 to confirm an easing of bullish pressure and to shift focus back
to $1.7121-27 where the 21-DMA is located. While $1.7534 supports bulls focus on
tests of the bull channel top ($1.8375).

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