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NYMEX WTI: (V17) $46.63 & 21-DMA Levels...>

OIL TECHS
OIL TECHS: NYMEX WTI: (V17) $46.63 & 21-DMA Levels Key 
*RES 4: $49.30 - High Aug 14 
*RES 3: $48.73 - 21-DMA 
*RES 2: $48.59 - Hourly resistance Aug 21a 
*RES 1: $48.21 - High Aug 22
*PRICE: $47.73 @ 0430GMT
*SUP 1: $47.47 - Daily Bull channel base 
*SUP 2: $47.21 - Low Aug 21 
*SUP 3: $46.94 - Low Aug 18 
*SUP 4: $46.90 - 55-DMA
*COMMENTARY: Bulls failed to capitalise on the recovery from last week's low
with the sell-off ahead of $49.30 taking out $48.33 Monday and shifting focus
back to layers of support $46.63-47.47. Bears still need a close below $46.63 to
end bullish hopes and initially target $45.31-59 with overall focus on $42.51
June lows. Initial resistance is noted at $48.21 but bulls look for a close
above the 21-DMA to see focus return to $49.30.

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