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NYMEX WTI: (V17) $46.62 & $49.31 Levels...>

OIL TECHS
OIL TECHS: NYMEX WTI: (V17) $46.62 & $49.31 Levels Still Key 
*RES 4: $48.91 - High Aug 21 
*RES 3: $48.55 - 21-DMA 
*RES 2: $48.44 - 100-DMA 
*RES 1: $48.20 - Hourly resistance Aug 28
*PRICE: $47.70 @ 0430GMT
*SUP 1: $47.37 - Hourly support Aug 24 
*SUP 2: $47.07 - Low Aug 24 
*SUP 3: $46.96 - 55-DMA 
*SUP 4: $46.62 - Low Aug 17
*COMMENTARY: Bulls take comfort in support continuing to emerge on dips back
towards the 55-DMA with bears continuing to look for a close below $46.62 to end
bullish hopes and initially target $45.21-58. The 100-DMA is currently capping
but bulls look for a close above $49.31 to confirm breaks of 21 & 100-DMAs and
shift initial focus to $50.04-51.27 where the bear channel top and 200-DMA are
situated.

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