NYMEX WTI: (Z17) $52.86-53.63 Support.....>

OIL TECHS: NYMEX WTI: (Z17) $52.86-53.63 Support Region Now Key 

*RES 4: $56.60 - Monthly High Feb 2 

*RES 3: $55.20 - Daily Bull channel top 

*RES 2: $55.02 - Monthly Apr 12 

*RES 1: $54.20 - High Oct 27

*PRICE: $53.96 @ 0430GMT

*SUP 1: $53.63 - Hourly support Oct 27 

*SUP 2: $53.14 - Hourly support Oct 27a 

*SUP 3: $52.86 - High Oct 26 now support 

*SUP 4: $52.25 - Low Oct 27

*COMMENTARY: 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 now on $55.02-20 where the daily bull channel top and

Apr highs are noted. Layers of support are following the contract higher with

bears now needing a close below $53.63 to ease immediate bullish pressure and

below $52.86 to shift focus back to the 21-DMA ($51.67).