Crude oil very much flat in Asia but again......>

OIL: Crude oil very much flat in Asia but again holding gains made on the

overnight when Crude  Oil reached levels last seen Mid April and Brent Crude oil

went to its highest level in two years. Crude oil was last at $54.01 and Brent

Crude oil was last at $60.80.

- The overnight gains came after speculation brewed OPEC will extend supply

curbs after the agreed March ending in order to rebalance the oil markets...

OPEC is scheduled to meet officially at its headquarters in Vienna, Austria, on

Nov. 30.

- MNI Technical Analysis sees support at $53.63 - Hourly support Oct 27 and

resistance at $54.23 - Hourly resistance Oct 30. Pressure returning to the

$53.11 resistance last week provided bulls hope and resulted in a break and

aggressive rally that reconfirms the bullish bias with focus on $55.02-27 where

the daily bull channel top and Apr highs are noted. Layers of support are

following the contract higher with bears still needing a close below $53.63 to

ease immediate bullish pressure and below $52.86 to shift focus back to the

21-DMA ($51.83).