WTI & Brent lost around $0.20 from Monday's.....>

OIL: WTI & Brent lost around $0.20 from Monday's settlement, after crude was

pressured by Monday's reports that the Genscape estimate pointed to an increase

in stocks at the Cushing hub.

- Traders now look to Tuesday's API inventory estimate ahead of Wednesday's DOE

inventory release, where analysts look for a 3.1mn build in headline crude

stocks.

- Bulls take comfort in support emerging ahead of the 100-DMA ($66.30) and the

$65.89 support. Bulls now need a close above the 21-DMA ($69.72) to shift

initial focus back to $70.60-71.13. Daily studies correcting from oversold

levels add support to the bullish case. While the 21-DMA caps bears remain

focused on the $65.89-66.12 supports with a close below $67.21 now needed to buy

bears breathing room.