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BRENT TECHS: (H20): Remains Vulnerable *RES 4:.......>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (H20): Remains Vulnerable
*RES 4: $69.00 - 61.8% retracement of the Jan 9 - Jan 9 sell-off
*RES 3: $68.15 - 50.0% retracement of the Jan 9 - Jan 9 sell-off
*RES 2: $67.31 - 38.2% retracement of the Jan 9 - Jan 9 sell-off
*RES 1: $66.10 - High Jan 9
*PRICE: $65.30 @ 06:45 GMT Jan 10
*SUP 1: $64.46 - Low Jan 9
*SUP 2: $64.24 - Low Dec 17
*SUP 3: $63.32 - 50% retracement of the Oct 3 - Jan 8 rally
*SUP 4: $62.16 - Low Nov 12
BRENT has been extremely volatile this week with futures trading sharply lower
off Wednesday's high of $71.75. Price also traded below support at $65.63, Dec
31 low and this effectively suggests a top has been put in place for now. The
technical picture suggests scope for a deeper pullback near-term. A break of
yesterday's low at $64.56 would open $63.32, a retracement level. Initial
resistance is at $66.10.

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