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NYMEX HO: (Z17) Bulls Need Close Above....>

OIL TECHS
OIL TECHS: NYMEX HO: (Z17) Bulls Need Close Above $1.8525
*RES 4: $1.9358 - 200-WMA
*RES 3: $1.9033 - High June 30 2015 (cont)
*RES 2: $1.8586 - 2017 High Sept 26 (cont)
*RES 1: $1.8525 - High Sept 26 (Z17)
*PRICE: $1.8513 @ 0330GMT
*SUP 1: $1.8411 - Hourly support Oct 26
*SUP 2: $1.8255 - Hourly resistance Oct 25 now support
*SUP 3: $1.8079 - Low Oct 26
*SUP 4: $1.7984 - Hourly support Oct 24
*COMMENTARY: Bears failed to trouble the 21-DMA with the contract bouncing with
pressure back on $1.8525. Bulls continue to look for a close above this level to
reconfirm the bullish bias and shift focus to $1.9033-1.9506 where the 200-WMA
and bull channel top are situated. Layers of support have been left in the wake
with bears needing a close below $1.8255 to ease bullish pressure and shift
focus back to $1.7711-1.7984 where the 21-DMA and channel base are found.
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