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OIL TECHS: NYMEX WTI: (U18) $67.76 Support Remains Key
*RES 4: $72.98 - Monthly High July 10
*RES 3: $72.08 - Low July 10 now resistance
*RES 2: $71.13 - Low July 9 now resistance
*RES 1: $70.60 - High July 13
*PRICE: $69.56 @ 0310GMT
*SUP 1: $68.76 - Low July 13
*SUP 2: $67.76 - High June 25 now support
*SUP 3: $66.77 - Low June 25
*SUP 4: $65.89 - 100-DMA
*COMMENTARY: Hesitation ahead of $73.00 has taken its toll on U18 with the sharp
sell-off dipping below the 55-DMA ($68.46). Bears now look for a close below
$67.76 to confirm a break of the 55-DMA and shift initial focus to $65.89-66.77
where the 100-DMA is noted. Layers of resistance building and correcting O/B
studies have recently weighed. Bulls now need a close above $71.13 to shift
focus back to $72.08-98.