BRENT TECHS: (G20): Bullish Outlook Remains Intact...>

BRENT TECHS: (G20): Bullish Outlook Remains Intact

*RES 4: $70.00 - Psychological round number

*RES 3: $68.58 - 2.00 projection of Nov 20 - Nov 27 rally from Dec 3 low

*RES 2: $68.02 - High Sep 16 and primary resistance

*RES 1: $67.00 - 1.618 projection of Nov 20 - Nov 27 rally from Dec 3 low

*PRICE: $66.55 @ 06:26 GMT Dec 24

*SUP 1: $65.12 - Low De 17

*SUP 2: $64.50 - Low Dec 13

*SUP 3: $63.01 - Low Dec 11 and initial key support

*SUP 4: $62.75 - Low Dec 5

The outlook for BRENT remains bullish. Futures have recently cleared $64.98,

76.4% retracement of the Sep 16 to Oct 3 decline, maintaining the bullish price

sequence of higher highs and higher lows. Attention is on $68.02, the 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 $65.12, Dec 17 low.