NYMEX WTI: (F18) $57.08 Resistance Now....>

OIL TECHS: NYMEX WTI: (F18) $57.08 Resistance Now Key 

*RES 4: $58.02 - Hourly resistance Dec 4 

*RES 3: $57.57 - High Dec 6 

*RES 2: $57.08 - Low Dec 5 now resistance, 21-DMA 

*RES 1: $56.43 - Hourly resistance Dec 6

*PRICE: $56.17 @ 0430GMT

*SUP 1: $55.75 - Low Nov 20 

*SUP 2: $55.00 - Weekly Low Nov 14 

*SUP 3: $54.41 - Daily bull channel base (Aug 31 low) 

*SUP 4: $54.32 - 55-DMA

*COMMENTARY: A lack of topside follow through and pressure on the 21-DMA took

its toll with a close below the key $56.75 support seeing focus shift to the

$53.96-55.00 region where the bull channel base and 55-DMA are situated. Below

$53.06 is now needed to pressure 100 ($52.00) & 200 ($50.93) DMAs. The $57.08

resistance is now key. Bulls need a close above this level to ease bearish

pressure and shift focus back to $58.02-59.05.