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NYMEX WTI: (Z17) Bears Need Close Below...>

OIL TECHS: NYMEX WTI: (Z17) Bears Need Close Below $50.48 
*RES 4: $52.61 - Bollinger band top 
*RES 3: $52.08 - High Sept 29 
*RES 2: $51.69 - High Oct 11 
*RES 1: $51.48 - Hourly resistance Oct 11
*PRICE: $51.18 @ 0430GMT
*SUP 1: $50.88 - Hourly support Oct 12 
*SUP 2: $50.48 - Low Oct 12 
*SUP 3: $50.13 - High Oct 9 now support 
*SUP 4: $49.77 - 55-DMA
*COMMENTARY: Volatile trading saw Z17 recover from below the 55-DMA to pressure
$52.08. Bulls continue to look for a close above $52.08 to return immediate
focus to $53.11 and overall focus to $53.73-54.42 where the bull channel top is
located. Layers of support are building and correcting O/S studies supporting.
Bears now need a close below $50.48 to ease bullish pressure and below $49.44 to
target $48.05-71 where the 100-DMA and bull channel base are found.

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