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OIL TECHS: ICE BRENT: (G18) Pressure Back On Channel Base
*RES 4: $65.83 - High Dec 12
*RES 3: $64.93 - Alternating support/resistance
*RES 2: $64.32 - High Dec 13
*RES 1: $62.99 - Low Dec 11 now resistance
*PRICE: $62.80 @ 0430GMT
*SUP 1: $62.01 - Low Dec 8, Daily Bull channel base
*SUP 2: $61.73 - Hourly support Dec 7
*SUP 3: $61.00 - Low Nov 17
*SUP 4: $60.36 - 55-DMA
*COMMENTARY: The aggressive rejection above the 200-WMA ($65.46) Tuesday didn't
quite result in a bearish key day reversal but layers of resistance accumulating
see focus on the $61.00-62.02 region where the bull channel base is noted. Bulls
continue to look for a close above $64.93 to return focus to the $65.83-68.31
region where the 200-WMA and bull channel top ($68.31) are located.