NYMEX WTI: (X17) Bulls Need Close Above...>

OIL TECHS: NYMEX WTI: (X17) Bulls Need Close Above 21-DMA 

*RES 4: $51.22 - Low Sept 25 now resistance 

*RES 3: $50.79 - Hourly resistance Oct 2 

*RES 2: $50.37 - 21-DMA 

*RES 1: $50.22 - Hourly support Oct 3 now resistance

*PRICE: $50.04 @ 0255GMT

*SUP 1: $49.91 - Hourly support Oct 4 

*SUP 2: $49.57 - Low Sept 14 

*SUP 3: $49.33 - Hourly support Sept 13 

*SUP 4: $49.14 - 55-DMA

*COMMENTARY: The bearish key day reversal Thursday provided the catalyst for a

sell-off and close below the 200-DMA ($50.90) that sees focus on layers of

support $48.32-49.57. Bears now look for a close below $49.57 to initially

pressure the 55-DMA ($49.14). Correcting studies add weight to the bearish case.

Layers of resistance are accumulating with bulls needing a close above the

21-DMA to gain breathing room and above $51.77 to return focus to $52.86-53.64.