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NYMEX HO: (Z17) $1.7494 Support Remains...>

OIL TECHS
OIL TECHS: NYMEX HO: (Z17) $1.7494 Support Remains Key
*RES 4: $1.8503 - Bollinger band top
*RES 3: $1.8302 - High Oct 16
*RES 2: $1.8249 - High Oct 17
*RES 1: $1.8185 - High Oct 18
*PRICE: $1.8092 @ 0330GMT
*SUP 1: $1.8049 - Hourly support Oct 23
*SUP 2: $1.7976 - Hourly resistance Oct 20 now support
*SUP 3: $1.7850 - Hourly support Oct 20
*SUP 4: $1.7618 - Low Oct 20
*COMMENTARY: Topside follow was lacking most of last week resulting in a dip
back towards the daily bull channel base ($1.7608). Bulls take comfort in the
bounce and but $1.8302 remains key. Initial support is noted at $1.8049 but
bears need a close below $1.7976 to ease bullish pressure and below $1.7850 to
see immediate focus back on $1.7494-1.7618. Bears need a close below $1.7494 to
confirm a break of the channel base and initially target $1.7024-1.7255.

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