ICE BRENT: (Z17) $56.40 Support Pivotal...>

OIL TECHS: ICE BRENT: (Z17) $56.40 Support Pivotal

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

*RES 3: $57.43 - High Sept 29 

*RES 2: $57.24 - High Oct 5 

*RES 1: $57.05 - Hourly resistance Oct 5

*PRICE: $56.89 @ 0430GMT

*SUP 1: $56.71 - Hourly support Oct 5 

*SUP 2: $56.40 - Hourly resistance Oct 5 now support 

*SUP 3: $55.97 - Hourly support Oct 5a 

*SUP 4: $55.38 - Low Oct 4

*COMMENTARY: Having looked heavy Wednesday bears failed to take advantage of

dips below the 21-DMA ($55.96) with the contract bouncing aggressively Thursday

to return focus to $58.34-58.88. Daily studies are well placed for further

gains. The $56.40 support is now key. Bears now look for a close below this

level to ease renewed bullish pressure and shift initial focus back to $55.38.

Below $55.38 shifts immediate focus to $54.20-61.