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: $57.29 @ 0250GMT

*SUP 1: $57.18 - Low Oct 23 

*SUP 2: $56.74 - 21-DMA 

*SUP 3: $56.37 - Low Oct 20 

*SUP 4: $55.69 - Low Oct 12

*COMMENTARY: Having looked heavy Friday bulls took comfort in the bounce ahead

of the bull channel base off Aug 31 lows that retains focus on $57.96-58.44.

Bulls need a close above $58.44 to hint at a move to the LT bull channel top off

June lows ($60.35) with above $59.05 to add support. Bears need a close below

$56.37 to shift focus to $54.30-85 where the 55-DMA and channel base are noted.

Correcting O/B studies and the Bollinger top ($58.24) remain concerns.