BRENT TECHS: (G20): Sharp Sell-Off *RES 4: $65.53....>

BRENT TECHS: (G20): Sharp Sell-Off

*RES 4: $65.53 - Nov 17 high

*RES 3: $64.98 - 76.4% retracement of Sep 16 - Oct 3 decline

*RES 2: $63.58 - High Nov 27

*RES 1: $61.78 - 50% Retracement of Friday high-low range

*PRICE: $61.29 @ 06:30 GMT Dec 2

*SUP 1: $60.35 - Low Nov 29

*SUP 2: $59.44 - Low Nov 20 and key support

*SUP 3: $58.50 - Low Oct 31

*SUP 4: $57.50 - Low Oct 21

BRENT saw sharp month end losses dominate activity into the close Friday. This

has, at least for now, undermined the recent bullish theme following the strong

reversal on Nov 20. For a bullish tone to return, prices will need to gradually

reclaim territory lost Friday and move towards $63.00. The key resistance and

bull trigger is at $63.58, Nov 27 high where a break would resume the uptrend.

Weakness below Friday's low of $60.35 would instead open $59.44.