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NYMEX WTI: (V17) Bulls Need Close Above...>

OIL TECHS
OIL TECHS: NYMEX WTI: (V17) Bulls Need Close Above $49.30 
*RES 4: $49.30 - High Aug 14 
*RES 3: $48.75 - 21-DMA 
*RES 2: $48.59 - Hourly resistance Aug 21a 
*RES 1: $48.42 - 100-DMA
*PRICE: $48.39 @ 0430GMT
*SUP 1: $48.21 - High Aug 22 now support 
*SUP 2: $47.84 - Hourly resistance Aug 23 now support 
*SUP 3: $47.57 - Daily Bull channel base 
*SUP 4: $47.21 - Low Aug 21
*COMMENTARY: The daily bull channel base continues to support with immediate
pressure back on the 100-DMA. Bulls continue to look for a close above $49.30 to
confirm breaks of 21 & 100-DMAs and to shift initial focus to $50.23-51.27 where
the bear channel top and 200-DMA are situated. Bears now look for a close below
$47.55 see immediate pressure return to $46.63-95 where the 55-DMA is found.
Below $46.63 is needed to end bullish hopes and initially target $45.31-59.

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