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NYMEX WTI: (Z17) Bulls Need Close Above...>

OIL TECHS
OIL TECHS: NYMEX WTI: (Z17) Bulls Need Close Above $53.11 
*RES 4: $53.73 - Low Apr 18 now resistance 
*RES 3: $53.11 - Monthly High Sept 28 
*RES 2: $53.08 - Bollinger band top 
*RES 1: $52.65 - High Oct 16
*PRICE: $52.40 @ 0430GMT
*SUP 1: $52.36 - Hourly support Oct 24 
*SUP 2: $51.55 - Low Oct 24 
*SUP 3: $51.48 - 21-DMA 
*SUP 4: $50.87 - Low Oct 20
*COMMENTARY: Topside hesitation ahead of the $52.65-53.11 region is less than
ideal for bulls who need a close above to shift focus to $53.73-55.03 where the
bull channel top ($54.98) is located. Bulls took comfort in the bounce from
ahead of the 200-DMA ($50.67) Friday. The 21-DMA is key support today with bears
needing a close below to ease immediate bullish pressure and shift focus to
$50.10-87 where the 55 ($50.10) & 200 ($50.66) DMAs are noted.

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