ICE BRENT: (H18) Bulls Need Close Above...>

OIL TECHS: ICE BRENT: (H18) Bulls Need Close Above $63.59

*RES 4: $65.40 - 200-WMA 

*RES 3: $64.95 - High Dec 12 

*RES 2: $63.59 - High Dec 13 

*RES 1: $63.05 - High Dec 15

*PRICE: $62.78 @ 0430GMT

*SUP 1: $62.50 - Low Dec 15 

*SUP 2: $61.89 - Hourly support Dec 14 

*SUP 3: $61.43 - Bull channel base off Aug 31 low 

*SUP 4: $60.84 - Low Nov 14

*COMMENTARY: The correction lower from ahead of the 200-WMA has so far found

support ahead of the daily bull channel base. Bulls continue to look for a close

above $63.59 to gain breathing room and above the 200-WMA to reconfirm the

bullish bias and initially target a bull channel top around $67.93. Bears now

need a close below the 55-DMA to hint at a move initially targeting $57.26-90

with a close below $59.48 needed to confirm.