ICE BRENT: (Z17) Support Layers...........>

OIL TECHS: ICE BRENT: (Z17) Support Layers Accumulating

*RES 4: $56.24 - Daily Bull channel top 

*RES 3: $55.37 - Monthly High May 25 

*RES 2: $55.21 - Bollinger band top 

*RES 1: $54.92 - High Sept 13

*PRICE: $54.71 @ 0430GMT

*SUP 1: $54.52 - Hourly support Sept 13 

*SUP 2: $54.10 - Hourly support Sept 13a 

*SUP 3: $53.82 - Low Sept 13 

*SUP 4: $53.28 - Low Sept 12

*COMMENTARY: Dips below the 200-DMA ($53.45) have lacked follow through with

bulls gaining confidence as focus returns to $55.37-56.24 where May highs and

the bull channel top are located. O/B daily studies and the Bollinger top are

concerns for bulls with potential to limit follow through. Bears now need a

close below $54.52 to gain breathing room and below $54.10 to return pressure to

support layers $52.65-53.28.