NYMEX WTI: (U17) Bulls Focused On.........>

OIL TECHS: NYMEX WTI: (U17) Bulls Focused On $50.70-51.30 

*RES 4: $51.30 - 200-DMA

*RES 3: $51.11 - Low May 23 now resistance 

*RES 2: $50.83 - Daily Bear channel top 

*RES 1: $50.70 - Alternating hourly support/resistance

*PRICE: $50.33 @ 0240GMT

*SUP 1: $50.10 - Hourly resistance July 31 now support 

*SUP 2: $49.18 - Low July 31 

*SUP 3: $48.88 - Low July 28 

*SUP 4: $48.64 - 100-DMA

*COMMENTARY: Immediate focus is now on the $50.70-51.30 region where the daily

bear channel top and 200-DMA are located. Bulls look for a close above the

200-DMA to initially target $52.63 with overall focus on $54.76 Apr highs. O/B

studies and the Bollinger top ($50.43) remain concerns for bulls. Bears now need

a close below $50.10 to gain breathing room and below the 100-DMA to shift focus

back to $47.08-86 where 21 & 55-DMAs are located.