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

OIL TECHS
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.

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