ICE BRENT: (F18) Bears Need Close Below...>

OIL TECHS: ICE BRENT: (F18) Bears Need Close Below $56.37

*RES 4: $59.05 - High Dec 29 2016 

*RES 3: $58.44 - Monthly High Sept 26 

*RES 2: $58.21 - High Oct 16 

*RES 1: $57.96 - Hourly resistance Oct 18

*PRICE: $57.73 @ 0430GMT

*SUP 1: $57.51 - Hourly resistance Oct 20 now support 

*SUP 2: $56.80 - Hourly support Oct 20, 21-DMA 

*SUP 3: $56.37 - Low Oct 20 

*SUP 4: $55.69 - Low Oct 12

*COMMENTARY: Bulls take comfort in the bounce from ahead of the bull channel

base off Aug 31 lows that retains focus on $57.96-58.44. Bulls look for a close

above $58.44 to hint at a move to the LT bull channel top ($60.35) off June lows

with above $59.05 to add support. Daily studies approaching O/B and the

Bollinger top ($58.42) are concerns for bulls. Bears now need a close below

$56.37 to shift focus to $54.21-85 where the 55-DMA and channel base are noted.