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NYMEX WTI: (U17) $47.86 & $50.10 Levels...>

OIL TECHS
OIL TECHS: NYMEX WTI: (U17) $47.86 & $50.10 Levels Now Key 
*RES 4: $50.78 - Daily Bear channel top 
*RES 3: $50.70 - Alternating hourly support/resistance 
*RES 2: $50.10 - Alternating hourly support/resistance 
*RES 1: $49.70 - Hourly resistance July 1a
*PRICE: $49.47 @ 0430GMT
*SUP 1: $49.29 - Hourly support Aug 2 
*SUP 2: $48.38 - Low Aug 1 
*SUP 3: $48.25 - Low July 27 
*SUP 4: $47.86 - Low July 26
*COMMENTARY: Daily studies correcting from O/B remain the key concern for bulls
who take comfort in support emerging on dips below the 100-DMA ($48.62). Bears
now need a close below $47.86 to confirm focus on 21 & 55-DMAs ($47.09-11).
Bulls gained breathing room with a close above $49.29 but now need a close above
$50.10 to confirm focus on $50.70-51.27 where the bear channel top and 200-DMA
are situated.

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