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NYMEX WTI: (U17) 21-DMA Support Now Key...>

OIL TECHS
OIL TECHS: NYMEX WTI: (U17) 21-DMA Support Now Key 
*RES 4: $51.20 - 200-DMA 
*RES 3: $51.11 - Low May 23 now resistance 
*RES 2: $50.63 - Daily Bear channel top 
*RES 1: $50.10 - Alternating hourly support/resistance
*PRICE: $49.55 @ 0250GMT
*SUP 1: $49.19 - Hourly resistance Aug 4 now support 
*SUP 2: $48.38 - Low Aug 1 
*SUP 3: $48.25 - Low July 27 
*SUP 4: $47.86 - Low July 26
*COMMENTARY: Support emerging on dips back to $47.68-48.38 is a concern for
bears who now look for a close below the 21-DMA ($47.68) to confirm an easing of
bullish pressure and below the 55-DMA ($47.01) to hint at a move back to $42.28
with below $45.16 to confirm. Layers of resistance $50.10-51.20 remain key.
Bulls need a close above the 200-DMA to confirm a bullish bias and shift
immediate focus to May highs ($52.63).
Energy BulletsCommodities
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