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NYMEX HO: (Z17) Bears Need Close Below....>

OIL TECHS
OIL TECHS: NYMEX HO: (Z17) Bears Need Close Below $1.7984
*RES 4: $1.8586 - 2017 High Sept 26 (cont)
*RES 3: $1.8525 - High Sept 26 (Z17)
*RES 2: $1.8395 - High Oct 25
*RES 1: $1.8255 - Hourly resistance Oct 25
*PRICE: $1.8178 @ 0330GMT
*SUP 1: $1.7984 - Hourly support Oct 24a
*SUP 2: $1.7735 - Daily Bull channel base
*SUP 3: $1.7711 - Low Oct 24
*SUP 4: $1.7618 - Low Oct 20
*COMMENTARY: The lack of topside follow through is a concern given daily studies
looking to correct from modestly O/B and the Bollinger top ($1.8398) capping.
Initial support is noted at $1.7984 with bears needing a close below to ease
bullish pressure & shift focus to $1.7494-1.7735. While $1.7984 supports bulls
focus on the break of $1.8586 to shift focus to $1.9357-1.9464 where the 200-WMA
and bull channel top are situated.

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