BRENT TECHS: (F20): Trendline Support Cleared *RES...>

BRENT TECHS: (F20): Trendline Support Cleared

*RES 4: $65.95 - 76.4% retracement of Sep 16 - Oct 3 decline

*RES 3: $63.96 - 61.8% retracement of Sep 16 - Oct 3 decline

*RES 2: $63.65 - High Nov 15

*RES 1: $62.57 - High Nov 19 and key intraday resistance

*PRICE: $60.73 @ 06:25 GMT Nov 20

*SUP 1: $60.66 - Low Nov 8 and intraday bear trigger

*SUP 2: $59.20 - Low Oct 31

*SUP 3: $58.64 - 61.8% retracement of the Oct 3 - Nov 15 rally

*SUP 4: $57.97 - Low Oct 21

BRENT experienced a sharp sell-off Tuesday breaking below its trendline support

drawn off the Oct 3 low that intersected at $62.21. The break lower brings into

focus support at $60.66, Nov 8 low where a clear breach is required to reinforce

the importance of the move below the trendline and also signal a reversal. This

would open $59.20, Oct 31 low. A break above yesterday's high is required to

offset the developing bearish threat and open $63.65 once again.