BRENT TECHS: (H20): Bearish Focus Intact *RES 4:.....>

BRENT TECHS: (H20): Bearish Focus Intact

*RES 4: $68.62 - 61.8% retracement of the Jan 8 - Jan 15 sell-off

*RES 3: $67.65 - 50.0% retracement of the Jan 8 - Jan 15 sell-off

*RES 2: $66.68 - 38.2% retracement of the Jan 8 - Jan 15 sell-off

*RES 1: $66.10 - High Jan 9 and key S/T resistance

*PRICE: $64.67 @ 06:15 GMT Jan 21

*SUP 1: $63.55 - Low Jan 15 and near-term bear trigger

*SUP 2: $63.32 - 50% retracement of the Oct 3 - Jan 8 rally

*SUP 3: $62.16 - Low Nov 12

*SUP 4: $61.32 - 61.8% retracement of the Oct 3 - Jan 8 rally

BRENT stalled at yesterday's high of $66.00. Recent gains have most likely been

a correction with a bearish outlook intact following the sharp sell-off on Jan

8. This resulted in a break of $65.63, Dec 31 low effectively signalling a

reversal of the Oct 3 - Jan 8 uptrend. Momentum studies are pointing south too,

reinforcing current conditions. With the technical picture bearish, attention is

on $63.32, a retracement level. Resistance is seen at $66.10.