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OIL TECHS: NYMEX WTI: (X17) $50.88-51.45 Resistance Region Key
*RES 4: $52.62 - Monthly High May 25
*RES 3: $51.45 - Low May 23 now resistance
*RES 2: $51.10 - 200-DMA
*RES 1: $50.88 - High Sept 14
*PRICE: $50.33 @ 0430GMT
*SUP 1: $50.17 - Hourly support Sept 18
*SUP 2: $49.57 - Low Sept 14
*SUP 3: $49.33 - Hourly support Sept 13
*SUP 4: $48.96 - High Sept 12 now support
*COMMENTARY: The recovery from Aug lows now sees the contract hesitating ahead
of the 200-DMA and $51.45 resistance as daily studies linger at O/B levels.
Bears look for a close below $49.57 to ease bullish pressure and below $48.96 to
shift immediate focus to key DMAs clustered $48.06-64. The $51.45 resistance
remains key. Bulls need a close above $51.45 to confirm a break of the 200-DMA
and to focus on $52.62 May highs.