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

BRENT TECHS: (H20): Still Vulnerable

*RES 4: $67.65 - 50.0% retracement of the Jan 8 - Jan 15 sell-off

*RES 3: $66.68 - 38.2% retracement of the Jan 8 - Jan 15 sell-off

*RES 2: $66.10 - High Jan 9

*RES 1: $65.27 - High Jan 13

*PRICE: $64.52 @ 06:17 GMT Jan 16

*SUP 1: $63.55 - Low Jan 15

*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 remains weak and dipped lower again yesterday. Futures are still seen

likely to move lower following the sharp sell-off on Jan 8. This also resulted

in a break of support at $65.63, Dec 31 low and has effectively signalled a top

in the recent Oct 3 - Jan 8 uptrend. Momentum studies are pointing south too.

With the technical picture still bearish, attention is on $63.32, a retracement

level. On the upside, resistance is seen at $66.10.