NYMEX WTI: (U17) Bears Need Close Below...>

OIL TECHS: NYMEX WTI: (U17) Bears Need Close Below $47.86 

*RES 4: $50.44 - Daily Bear channel top 

*RES 3: $50.22 - High Aug 10 

*RES 2: $49.52 - Hourly resistance Aug 10a 

*RES 1: $48.93 - Hourly resistance Aug 10

*PRICE: $48.46 @ 0430GMT

*SUP 1: $48.38 - Low Aug 1 

*SUP 2: $48.30 - 21-DMA 

*SUP 3: $48.25 - Low July 27 

*SUP 4: $47.86 - Low July 26

*COMMENTARY: Support emerging on dips back to $47.86-48.38 is a concern for

bears who need a close below the $47.86 to confirm an easing of bullish pressure

and below the 55-DMA ($46.87) to hint at a move back to $42.28 with below $45.16

to confirm. Initial resistance is noted at $48.93 but bulls need a close above

$49.52 to ease bearish pressure and return focus to key resistance $50.22-51.20

where the 200-DMA ($51.20) is noted.