NYMEX Crude Technical Levels

Low At $57.55 Eyed

RES 4: $64.00 23.6% of $59.52 to $78.40 & Daily high 28 Sept
RES 3: $63.30 Daily high 2 Oct
RES 2: $60.95 5-day moving average
RES 1: $59.25 Hourly high

LAST PRICE: $58.84

SUP 1: $57.90 Daily Bollinger base
SUP 2: $57.55 Low 17 Feb 2006 on continuation charts
SUP 3: $55.85 Support line from 17 Aug
SUP 4: $54.85 38.2% of $78.40 to $16.70

Bears are in control and risk is now on weakness to $57.55 the YTD low on continuation charts. Below here, a downward channel support line from mid August targets $55.85 but nothing really significant until $54.85 -- the 38.2% of November 2001 to July 2006 rally. Resistance is at $59.25 ahead of the 5-day ma at $60.95.