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NYMEX HO: (Z17) Bulls Now Focused On......>

OIL TECHS
OIL TECHS: NYMEX HO: (Z17) Bulls Now Focused On Channel Top
*RES 4: $1.9998 - High May 21 2015
*RES 3: $1.9803 - Daily Bull channel top
*RES 2: $1.9631 - High May 29 2015
*RES 1: $1.9468 - 2017 High Nov 6
*PRICE: $1.9354 @ 0430GMT
*SUP 1: $1.9257 - Hourly support Nov 6
*SUP 2: $1.9018 - Hourly support Nov 6a
*SUP 3: $1.8802 - Hourly resistance Nov 1 now support
*SUP 4: $1.8523 - Low Nov 3
*COMMENTARY: The close above $1.9033 sees bullish focus shift to the daily bull
channel top. O/B daily studies and the Bollinger top ($1.9332) remain key
concerns for bulls. In saying that, support layers building adds to bullish
confidence with bears now needing a close below $1.9018 to confirm an easing of
bullish pressure and hint at a correction back to $1.8301-80 where the 21-DMA
($1.8330) is located.

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