BRENT TECHS: (G20): Bullish Outlook Intact *RES 4:...>

BRENT TECHS: (G20): Bullish Outlook Intact

*RES 4: $70.00 - Psychological round number

*RES 3: $68.02 - High Sep 16 and primary resistance

*RES 2: $67.00 - 1.618 projection of Nov 20 - Nov 27 rally from Dec 3 low

*RES 1: $66.43 - High Dec 18

*PRICE: $66.23 @ 06:34 GMT Dec 19

*SUP 1: $64.50 - Dec 13 low

*SUP 2: $63.01 - Low Dec 11 and initial key support

*SUP 3: $62.75 - Low Dec 5

*SUP 4: $61.00 - Low Dec 4

BRENT remains bullish and extended gains once again yesterday. Futures have

recently cleared $64.98, 76.4% retracement of the Sep 16 to Oct 3 decline and

once again confirmed a resumption of the underlying uptrend. Attention turns to

the $68.02 key resistance and Sep 16 high. The first objective though is at

$67.00, a Fibonacci projection level. On the downside, initial support lies at

$64.50, Dec 13 low.