Crude Oil Technical Levels

Risks New YTD Lows Below $57.55

RES 4: $61.45 Daily high 9 Oct
RES 3: $60.68 Daily high 10 Oct
RES 2: $59.35 5-day moving average
RES 1: $58.70 23.6% of $57.85 to $61.30

LAST PRICE: $58.67

SUP 1: $57.75 Daily low 4 Oct
SUP 2: $57.55 Low 17 Feb 2006 on continuation charts & Bollinger base
SUP 3: $56.90 Low 19 Dec 2005
SUP 4: $54.85 38.2% of $78.40 to $16.70

Bears remain in control and risk is now on weakness to $57.55 the YTD low on continuation charts. Below here $57.30 is eyed, which is the reversal low on Sept 25.
However, there isn't anything significant until $54.85 - the 38.2% of November 2001 to July 2006 rally.
Resistance is at $58.70 ahead of the 5-day ma at $59.35.