BRENT TECHS: (F19) 200-DMA Holds Again But Bounces...>

BRENT TECHS: (F19) 200-DMA Holds Again But Bounces Look Weak 

*RES 4: $90.00 - Resistance 

*RES 3: $86.74 - High Oct 4 

*RES 2: $80.00 - Resistance 

*RES 1: $78.45 - 55-dma 

*PRICE: $72.89 @ 05:45 GMT 

*SUP 1: $72.47 - 200-dma 

*SUP 2: $70.93 - Low Aug 15 

*SUP 3: $70.00 - Support 

*SUP 4: $66.58 - High Jan 26 

Brent futures remained above their 200-dma on a closing basis yesterday but

rallies have failed to materialize, keeping the focus lower. Below the 200-dma

would strengthen the bearish case, opening the Aug 15 low at $70.93. Bulls need

to recover the 55-dma at $78.45 to open the $80 level, above which the outlook

would turn positive, but there are few signs of a bullish reversal at this

stage.