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OIL TECHS: NYMEX WTI: (U18) Bulls Need Close Above 21-DMA
*RES 4: $69.78 - High July 16
*RES 3: $69.00 - 21-DMA
*RES 2: $68.41 - 55-DMA
*RES 1: $68.09 - Low July 12 now resistance
*PRICE: $67.10 @ 2130GMT
*SUP 1: $65.86 - 100-DMA
*SUP 2: $64.47 - Daily Bull channel base off Feb 14 low
*SUP 3: $63.88 - Low June 19
*SUP 4: $62.99 - Monthly Low June 18
*COMMENTARY: Topside hesitation has again taken its toll with the correct from
last week's lows stalling ahead of the $71.13 resistance. The sell-off Monday
sees immediate focus back on the 100-DMA and overall focus return to the June
monthly low. Daily studies have a room to move before O/S is an issue. Bulls now
need a close above the 21-DMA to gain breathing room and above $71.13 to shift
initial focus back to $72.08-98.