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NYMEX WTI: (Z17) $53.63-89 Support........>

OIL TECHS
OIL TECHS: NYMEX WTI: (Z17) $53.63-89 Support Remains Key 
*RES 4: $56.60 - Monthly High Feb 2 
*RES 3: $55.89 - High Feb 21 
*RES 2: $55.48 - Daily Bull channel top 
*RES 1: $55.22 - High Nov 1
*PRICE: $54.81 @ 0430GMT
*SUP 1: $54.69 - Hourly resistance Nov 1 now support 
*SUP 2: $53.89 - Low Nov 1 
*SUP 3: $53.63 - Hourly support Oct 27 
*SUP 4: $53.14 - Hourly support Oct 27a
*COMMENTARY: The rejection ahead of the daily bull channel top was less than
ideal for bulls given daily studies looking to correct from O/B and the
Bollinger top ($55.26) limiting follow through. The $53.63-89 support region
remains key with Z17 having bounced ahead of this region Thursday. Bears need a
close below $53.63 to shift initial focus back to $52.86. Bulls remain focused
on the bull channel top while $53.63 supports.

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