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BRENT TECHS: (F20): Trendline Support Intact
*RES 4: $66.58 - High Sep 17
*RES 3: $65.95 - 76.4% retracement of Sep 16 - Oct 3 decline
*RES 2: $63.96 - 61.8% retracement of Sep 16 - Oct 3 decline
*RES 1: $63.65 - High Nov 15
*PRICE: $63.28 @ 06:21 GMT Nov 18
*SUP 1: $62.00 - Trendline support drawn off Oct 3 low
*SUP 2: $60.66 - Low Nov 8 and intraday bear trigger
*SUP 3: $59.20 - Low Oct 31
*SUP 4: $58.67 - Low Oct 23
BRENT traded higher Friday probing resistance at $63.32, Nov 6 high. The outlook
remains bullish with prices holding above trendline support drawn off the Oct 3
low that intersects at $62.00. Furthermore, momentum studies are firm. While the
trendline holds, the focus is on a climb towards the $63.96 retracement next. An
additional key support lies at $60.66, Nov 8 low. A break here is required to
threaten the uptrend.