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

OIL TECHS
OIL TECHS: NYMEX WTI: (Z17) Supported Ahead Of 200-DMA 
*RES 4: $53.07 - Bollinger band top 
*RES 3: $52.65 - High Oct 16 
*RES 2: $52.39 - Hourly resistance Oct 19 
*RES 1: $52.24 - Hourly resistance Oct 23
*PRICE: $52.08 @ 0245GMT
*SUP 1: $51.87 - Hourly support Oct 20 
*SUP 2: $51.48 - 21-DMA 
*SUP 3: $51.24 - Hourly resistance Oct 20 now support 
*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 ($54.84) is located. Bulls take comfort on the bounce from
ahead of the 200-DMA ($50.69). Layers of support remain $48.65-50.87. Bears need
a close below the 200-DMA to gain breathing room and below the 55-DMA ($50.00)
to pressure $48.65-49.44.

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