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OIL TECHS: NYMEX WTI: (U18) Bulls Need Close Above 21-DMA
*RES 4: $72.08 - Low July 10 now resistance
*RES 3: $71.13 - Low July 9 now resistance
*RES 2: $70.60 - High July 13
*RES 1: $69.80 - 21-DMA
*PRICE: $69.52 @ 0430GMT
*SUP 1: $69.45 - Hourly support July 26
*SUP 2: $68.92 - Low July 26
*SUP 3: $68.20 - Low July 25
*SUP 4: $67.52 - Hourly support July 19
*COMMENTARY: Bulls took comfort in support emerging ahead of the 100-DMA and the
$65.89 support with pressure returning to the 21-DMA. Bulls still need a close
above the 21-DMA to shift initial focus back to $70.60-71.13. While the 21-DMA
caps bears remain focused on the $65.89-66.30 supports with a close below $68.92
needed to buy bears breathing room.