ICE BRENT: (Z17) $54.52 Support Key.......>

OIL TECHS: ICE BRENT: (Z17) $54.52 Support Key

*RES 4: $57.40 - Monthly High Apr 12 

*RES 3: $56.72 - Daily Bull channel top 

*RES 2: $56.25 - Bollinger band top 

*RES 1: $55.74 - High Sept 18

*PRICE: $55.12 @ 0430GMT

*SUP 1: $54.61 - Low Sept 15 

*SUP 2: $54.52 - Hourly support Sept 13 

*SUP 3: $54.10 - Hourly support Sept 13a 

*SUP 4: $53.82 - Low Sept 13

*COMMENTARY: Fresh 4mth highs lacked follow through again Monday with the

Bollinger top and O/B studies remaining key concerns for bulls. Support layers

remain and add support to the bullish case. Bears continue to look for a close

below $54.52 to ease bullish pressure and below $54.10 to return pressure to

support layers $52.87-53.43. Bulls need a close above $55.74 to reconfirm a

bullish bias initially targeting the channel top.