Extremely flat session for Crude oil, moving....>

OIL: Extremely flat session for Crude oil, moving within a range of $0.09, last

at $51.42.

- On the overnight crude oil dipped as U.S. Stock inventories increased and

Iraqi engineers began to replace output in oil rich Kirkuk after reclaiming the

province. Gas storage counts were up but by a lot less than previous at 51 from

87 and lower than surveyed at 53.

- Baker Hughes Rig Count on Friday.

- MNI Technical Analysis sees support at $51.42 - 21-DMA and resistance at

$51.92 - Low Oct 18 now resistance. Topside hesitation ahead of the $52.65-53.11

region is less than ideal for bulls who need a close above to shift focus to

$53.73-55.03 where the bull channel top ($54.77) is located. The $51.28 support

is now key with bears needing a close below to confirm a break of the 21-DMA and

shift immediate focus back to $49.44-50.13 where the 55-DMA is noted ($49.96). A

close below the 200-DMA would add weight to the bearish case.