BRENT TECHS: Daily price action on the Brent Jul.....>

BRENT TECHS: Daily price action on the Brent Jul contract highlights a

potentially important price pattern yesterday:

- Looking at Japanese candle patterns, yesterday's price action at the close,

confirmed a doji formation. This is where the close and open are equal or close

enough to each other.

- Why is it important? A doji is a reliable pattern when looking to identify the

end of a correction.

- If indeed, the recent downleg from $26.98 - $21.92 (Mar 23 - 28) is a

correction of the earlier gains from $19.99 to $26.98, then this candle pattern

is worth noting.

- The pattern also reinforces the importance of yesterday's $21.92 low as a

support.

- If it remains intact, and if the price trades above yesterday's high of

$23.79, this would be seen as an important intraday bullish signal.

- A break below $21.92 would negate the pattern. See chart:

- https://emedia.marketnews.com/marketnewsintl/JulBrent.jpg