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NYMEX WTI: (Z17) Supported Ahead Of.......>

OIL TECHS
OIL TECHS: NYMEX WTI: (Z17) Supported Ahead Of 21-DMA 
*RES 4: $53.73 - Low Apr 18 now resistance 
*RES 3: $53.11 - Monthly High Sept 28 
*RES 2: $52.97 - Bollinger band top 
*RES 1: $52.65 - High Oct 16
*PRICE: $52.37 @ 0245GMT
*SUP 1: $52.15 - Hourly support Oct 17 
*SUP 2: $51.96 - Hourly resistance Oct 17 now support 
*SUP 3: $51.48 - Low Oct 17 
*SUP 4: $51.37 - 21-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 $53.11-54.63 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 now
needing a close below the 21-DMA to ease bullish pressure and shift immediate
focus back to $49.44-90 where the 55-DMA is noted.

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