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

OIL TECHS
OIL TECHS: NYMEX WTI: (Z17) Bears Need Close Below $51.62 
*RES 4: $53.11 - Monthly High Sept 28 
*RES 3: $52.87 - Bollinger band top 
*RES 2: $52.65 - High Oct 16 
*RES 1: $52.25 - Hourly resistance Oct 16
*PRICE: $52.07 @ 0430GMT
*SUP 1: $51.89 - Hourly support Oct 16 
*SUP 2: $51.62 - Hourly support Oct 13 
*SUP 3: $51.27 - Hourly support Oct 13a 
*SUP 4: $50.79 - 200-DMA
*COMMENTARY: A volatile week resulted in a bullish close with the break of
$52.08 adding support to the bullish case for a test of the $53.11-54.49 region
where monthly highs and the bull channel top are located. Daily studies have
room to move before O/B is an issue. Layers of support remain with bears needing
a close below $51.62 to ease bullish pressure and shift immediate focus back to
$49.44-84 where the 55-DMA is noted.

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