BRENT TECHS: (H19) Back To Middle Of Range *RES.....>

BRENT TECHS: (H19) Back To Middle Of Range 

*RES 4: $71.83 - 200-dma (continuation chart) 

*RES 3: $64.61 - Low Nov 13 (continuation chart) 

*RES 2: $63.94 - High Dec 7 (continuation chart) 

*RES 1: $63.15 - High Jan 21 

*PRICE: $60.97 @ 05:41 GMT Feb 1

*SUP 1: $60.73 - 21-dma (continuation chart) 

*SUP 2: $58.90 - Low Jan 14 (continuation chart) 

*SUP 3: $50.22 - Low Dec 26 (continuation chart) 

*SUP 4: $44.35 - Low Jun 21, 2017 (continuation chart) 

Brent futures have fallen back to the middle of their three week range with

bears now having an opportunity to break below the 21dma which comes in just

below current levels at $60.73. Below here would shift the outlook bearish and

target Jan 14 low at $58.90 ahead of the Dec 26 low at $50.22. Bulls continue to

target the Jan 21 high at $63.15. A break would trigger an inverse head and

shoulders opening the Dec 7 high at $63.94, ahead of the Nov 13 lows at $64.61.