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

OIL TECHS
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: $64.03 - Bollinger band top 
*RES 1: $63.59 - High Dec 13
*PRICE: $63.52 @ 0230GMT
*SUP 1: $62.98 - Hourly support Dec 19 
*SUP 2: $62.50 - Low Dec 15 
*SUP 3: $61.89 - Hourly support Dec 14 
*SUP 4: $61.71 - Bull channel base off Aug 31 low
*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 $68.20. Initial
support is now noted at $62.98 but bears look for a close below $62.50 to see
pressure return to the bull channel base.

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