NYMEX-Crude up on technicals, factory data, gold

NEW YORK, Nov 3 (Reuters) - U.S. crude futures rose on
Tuesday after seesawing, bouncing off technical support as
stronger than expected factory order data and a rally in gold
helped boost oil despite the dollar's strength and weak
equities.

"It's a technical rally. And some people are viewing the
rally in gold as a reason to push crude up," said Tim Evans,
energy analyst at Citi Futures Perspective in New York.

Crude's $76.55 intraday low was 1 cent under Monday's low
trade and technical support was charted at $76.20 a barrel.

Gold swept to a record high above $1,080 per ounce on
Tuesday, defying dollar strength, as the International Monetary
Fund's 200-tonne sale of gold to India's central bank boosted
sentiment toward the metal. [ID:nL3566833]

New orders received by U.S. factories rose 0.9 percent in
September, stronger than expected, while inventories continued
to shrink, the Commerce Department said. [ID:nN03495427]

The U.S. dollar rose to a one-month high against a basket
of currencies as concerns about the banking sector and weaker
equities boosted the greenback's safe-haven appeal. [USD/]

Oil markets on Tuesday were anticipating weekly oil
inventory reports and Friday's U.S. monthly employment report
as well as results of the Federal Reserve's two-day meeting
that started on Tuesday.

PRICES

* On the New York Mercantile Exchange at 1:36 p.m. EST
(1836 GMT), December crude CLZ9 was up $1.10, or 1.41 percent
at $79.23 a barrel, in choppy trading from $76.55 to $79.56.

* In London, December Brent crude LCOZ9 rose $1.25, or
1.63 percent, to $77.80 a barrel, trading from $75.08 to
$78.15.

* NYMEX December RBOB RBZ9 rose 1.42 cents, or 0.71
percent, to $2.0045 a gallon, trading from $1.9379 to $2.01.

* NYMEX December heating oil HOZ9 rose 2.25 cents, or 1.1
percent, to $2.0685 a gallon, trading from $2.0030 to $2.0750.

* The December/December RBOB crack spread <0#RB-CL=R> was
at $4.88, after ending at $5.46 on Monday. The
December/December heating oil crack spread <0#CL-HO=R> was at
$7.56, after ending at $7.80 on Monday.

* The spread between the current front month and the
five-year forward crude contract CLc61 was at $12.23, based
on the December 2014 contract Monday settlement at $91.46. The
spread ended Monday at $13.33.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $79.10/$77.07

Technical support/resistance:

NYMEX crude: $76.20/$78.00

NYMEX heating oil: $1.9635/$2.1045

NYMEX RBOB: $1.9335/$2.0605

For a full report on technicals, click on [ID:nL3599109]

MARKET NEWS

* U.S. stocks stumbled after Morgan Stanley downgraded the
semiconductor sector and a shake-up at two big British banks
prompted investors to sell financial shares. [.N]

* An expanded Reuters survey on Tuesday yielded a forecast
for crude stocks to have risen by 1.4 million barrels last week
and for distillate supply to have dropped 1 million barrels and
gasoline stocks to have risen 300,000 barrels. [EIA/S]

* Venezuela Energy Minister Rafael Ramirez said that OPEC
should not increase oil production. [ID:nN03489864]
(Reporting by Robert Gibbons, Gene Ramos and Edward
McAllister; Editing by Walter Bagley)