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NYMEX WTI: (Z17) Bulls Focused On.........>

OIL TECHS
OIL TECHS: NYMEX WTI: (Z17) Bulls Focused On $53.11-54.49 
*RES 4: $54.49 - Daily Bull channel top 
*RES 3: $53.73 - Low Apr 18 now resistance 
*RES 2: $53.11 - Monthly High Sept 28 
*RES 1: $52.78 - Bollinger band top
*PRICE: $52.15 @ 0240GMT
*SUP 1: $52.01 - Hourly support Oct 16 
*SUP 2: $51.62 - Hourly support Oct 13 
*SUP 3: $51.27 - Hourly support Oct 13a 
*SUP 4: $50.82 - 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 are building with bears
needing a close below $51.62 to ease bullish pressure and shift immediate focus
back to $49.44-82 where the 55-DMA is noted.

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