NYMEX WTI: (Q18) Below 55-DMA To Target...>

OIL TECHS: NYMEX WTI: (Q18) Below 55-DMA To Target $64.76-66.22

*RES 4: $74.90 - High July 4 

*RES 3: $74.04 - Hourly resistance July 11 

*RES 2: $72.14 - Low July 6 now resistance 

*RES 1: $71.19 - Hourly resistance July 11

*PRICE: $70.70 @ 0310GMT

*SUP 1: $70.06 - 21-DMA 

*SUP 2: $69.10 - 55-DMA 

*SUP 3: $67.78 - Hourly resistance June 27 now support 

*SUP 4: $66.33 - 100-DMA

*COMMENTARY: Fresh 2018 & 3+yr highs last week remained capped ahead of daily

and weekly bull channel tops. Correcting very O/B daily studies are now

impacting with a sharp sell-off that sees pressure back on 21 & 55-DMAs. Bears

now need a close below the 55-DMA to shift focus back to $64.76-66.33 where the

100-DMA and a bull channel base are situated. Bulls now look for a close above

$72.14 to ease bearish pressure and shift focus back to $74.90-75.27.