Crude oil lower in Asia, last at $57.02 after...>

OIL: Crude oil lower in Asia, last at $57.02 after going to $57.69 on the

overnight.

- Crude oil is winding down after gains made this week amid tensions in the

Middle East, those tensions still pulling slightly. Crude is also down as cuts

to supply by OPEC still lay heavily on the cards for the end of the month and

API showed Crude stockpiles dropped less than expected by -1.562mln BBL/gasoline

inventories rose. Wednesday ET EIA will report stockpiles and inventory, crude

stockpiles are surveyed to decline by less than prior and it's the same story

for gas inventories. 

- MNI technical analysis sees support at $56.83 - Low Nov 7 and resistance at

$57.82 - 2017 High Jan 6. Hesitation ahead of the longer-term bull channel top

came to an end Friday with a rally that sees the contract pressuring 2017 highs

and focus now on $57.82-60.75 where the 200-WMA ($60.75) is situated. O/B daily

studies remain the key concern for bulls.