CRUDE TECHNICAL PICTURE

NYMEX LIGHT SWEET CRUDE TECHS: Breaks Below 200-day Moving Ave

RES 4: $74.20 100-day moving average
RES 3: $73.75 Failure high 25 Aug
RES 2: $71.45 5-day moving average
RES 1: $70.90 Hourly high

LAST PRICE: $69.40

SUP 1: $69.35 50.0% of $80.37 to $58.31
SUP 2: $69.05 Daily low 5 Apr
SUP 3: $68.05 Daily low 29 Mar
SUP 4: $67.85 Support line from 28 Nov 2005

Bears taking control and break below the 200-day moving average at $69.65, is seen triggering further weakness to $69.35, which is the 50.0% retracement of the October range. However, m/t risk is now seen to $67.85, which is a trend line from November 28, 2005.