BRENT TECHS: (F20): Uptrend Remains Intact *RES 4:...>

BRENT TECHS: (F20): Uptrend Remains Intact

*RES 4: $66.58 - High Sep 17

*RES 3: $65.95 - 61.8% retracement of Sep 16 - Oct 3 decline

*RES 2: $63.96 - 61.8% retracement of Sep 16 - Oct 3 decline

*RES 1: $63.49 - High Sep 19

*PRICE: $61.75 @ 06:23 GMT Nov 7

*SUP 1: $61.28 - Low Nov 4

*SUP 2: $60.59 - Trendline support drawn off Oct 3 low

*SUP 3: $59.20 - Low Oct 31 and intraday bear trigger

*SUP 4: $58.67 - Low Oct 23

BRENT bullish conditions prevail, despite yesterday's selling pressure. Recent

gains have defined key support at $59.20, Oct 31 low where a break is required

to see bearish pressure return. Note though, initial support is seen at $61.28,

Nov 4 low. Last weeks bounce is significant in that it means trendline support

drawn off Oct 3 low, despite being probed briefly, remains intact. The focus for

now is on a climb towards the 63.96 retracement.