ICE BRENT: (Z17) 21-DMA Supporting For....>

OIL TECHS: ICE BRENT: (Z17) 21-DMA Supporting For Now

*RES 4: $57.74 - Hourly support Sept 28 now resistance 

*RES 3: $57.43 - High Sept 29 

*RES 2: $56.93 - Hourly resistance Sept 29 

*RES 1: $56.28 - Hourly support Oct 2 now resistance

*PRICE: $55.88 @ 02500GMT

*SUP 1: $55.57 - 21-DMA 

*SUP 2: $55.46 - Low Sept 21 

*SUP 3: $54.61 - Low Sept 15 

*SUP 4: $54.20 - High Sept 12 now support

*COMMENTARY: A lack of topside follow through last week on the rally to $58.88

has resulted in a sell-off that now sees the contract pressuring the 21-DMA.

Bears look for a close below $55.46 to shift immediate focus to $54.20-61 and

overall focus to $52.56-53.42 where key DMAs and the bull channel base are

situated. Correcting O/B studies are weighing on the contract. Bulls now need a

close above $56.93 to ease immediate bearish pressure.