NYMEX WTI: (U18) Below 55-DMA To Target...>

OIL TECHS: NYMEX WTI: (U18) Below 55-DMA To Target 100-DMA

*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: $69.93 - Low July 6 now resistance

*PRICE: $69.30 @ 0430GMT

*SUP 1: $68.40 - 55-DMA 

*SUP 2: $67.76 - High June 25 now support 

*SUP 3: $66.77 - Low June 25 

*SUP 4: $65.78 - 100-DMA

*COMMENTARY: Hesitation ahead of $73.00 has taken its toll on U18 with the sharp

sell-off seeing pressure on the 55-DMA. Bears now look for a close below $67.76

to confirm a break of the 55-DMA and shift initial focus to $65.78-66.77 where

the 100-DMA is noted. Layers of resistance building and correcting O/B studies

have recently weighed. Bulls now need a close above $69.93 to gain breathing

room and above $71.13 to shift focus back to $72.08-98.