NYMEX Crude Oil Technical Levels

NYMEX LIGHT SWEET CRUDE TECHS: Trend Support Line At $59.60 Eyed

RES 4: $68.85 Daily high 6 Sept
RES 3: $67.60 Daily high 8 Sept
RES 2: $66.45/50 Daily highs 11, 12 Sept
RES 1: $65.45 5-day moving average

SUP 1: $63.50 76.4% of $80.37-$58.30
SUP 2: $62.95 Daily low 15 Feb 2006
SUP 3: $61.87 Daily low 23 Mar
SUP 4: $59.60 Trend support line from Sept 2003

Oct has so far found support at $63.50 -- the 76.4% of the $80.37-$58.30 move. However, risks remain skewed lower to $61.87 and nothing really significant until $59.60, which is the Mar 21 low on continuation charts and also value of a trend line from Sept 2003.