NYMEX Crude Oil Technical Levels

NYMEX LIGHT SWEET CRUDE: Holds Above 21-Day Mooving Average

RES 4: $61.71/79 23.6% of $56.55 to $78.40, daily high 26 October
RES 3: $61.25 Current top of daily Bollinger band
RES 2: $60.80 Resistance line 28 Sep
RES 1: $60.54/56 Daily highs 17 Oct, 6 Nov

CURRENT LEVEL: 59.03

SUP 1: $58.90/00 5 and 21-day moving averages
SUP 2: $58.48/50 Minor support line 20 Oct and low 6 Nov
SUP 3: $57.22 Daily low 12 October
SUP 4: $57.05 Daily low 31 October

The market is holding over the 21-day moving average but is struggling to sustain a break of the declining trend from 9 August.