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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.

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