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ICE BRENT: (Z17) Bulls Focused On.........>

OIL TECHS
OIL TECHS: ICE BRENT: (Z17) Bulls Focused On Channel Top
*RES 4: $57.40 - Monthly High Apr 12 
*RES 3: $56.82 - Daily Bull channel top 
*RES 2: $56.68 - Bollinger band top 
*RES 1: $56.11 - High Sept 20
*PRICE: $55.76 @ 0315GMT
*SUP 1: $55.59 - Hourly support Sept 20 
*SUP 2: $55.28 - Alternating hourly support/resistance 
*SUP 3: $55.02 - Low Sept 20 
*SUP 4: $54.61 - Low Sept 15
*COMMENTARY: Bulls reconfirmed dominance with fresh 4mth highs continuing and
focus on the daily bull channel top. Momentum divergence and O/B studies in
general remain the key concern for bulls. Support layers accumulating add to
bullish confidence. Initial support is noted at $55.59 with bears needing a
close below to gain breathing room. Bears look for a close below $52.52 to shift
focus to the 21 & 200-DMAs ($53.42-61).

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