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OIL TECHS: NYMEX WTI: (F18) Below 21-DMA Targets Deeper Correction
*RES 4: $59.52 - Daily bull channel top
*RES 3: $59.09 - Bollinger band top
*RES 2: $59.05 - 2017 High Nov 24
*RES 1: $58.37 - Hourly resistance Nov 27
*PRICE: $57.73 @ 0430GMT
*SUP 1: $58.15 - High Nov 22 now support
*SUP 2: $57.75 - Low Nov 23
*SUP 3: $57.22 - High Nov 21 now support
*SUP 4: $56.88 - Hourly support 21 Nov
*COMMENTARY: The sell-off Monday negated Friday's gains with focus now on the
$56.53-57.22 support region where the 21-DMA is located. Bears now need a close
below the 21-DMA to shift immediate focus to $55.00-75 and overall focus back to
$53.06-96 where the 55-DMA ($53.48) and bull channel base ($53.64) reside.
Initial resistance is noted at $58.37 with bulls needing a close above to
pressure 2017 highs once more.