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

OIL TECHS: ICE BRENT: (F18) Bears Need Close Below $59.82

*RES 4: $62.71 - Daily Bull channel top B 

*RES 3: $61.80 - Daily Bull channel top A 

*RES 2: $61.70 - 2017 High Nov 1 

*RES 1: $61.35 - Hourly support Nov 1 now resistance

*PRICE: $60.60 @ 0430GMT

*SUP 1: $60.00 - Low Nov 1 

*SUP 2: $59.82 - Hourly resistance Oct 27 now support 

*SUP 3: $59.29 - High Oct 26 now support 

*SUP 4: $58.50 - High Oct 25 now support

*COMMENTARY: Fresh 2017 and 2+ year highs continue but the lack of topside

follow through is a concern for bulls when combined with daily studies looking

to correct from O/B. Bears continue to look for a close below $59.82 to shift

immediate focus back to $58.50. Layers of resistance are starting to accumulate

which increases the risk of a correction. Bulls now need a close above $61.70 to

end correction talk and focus on the channel top off Aug 31 lows.