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BRENT TECHS: (H20): Underlying Bull Trend Intact.....>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (H20): Underlying Bull Trend Intact
*RES 4: $69.28 - 2.382 projection of Nov 20 - Nov 27 rally from Dec 3 low
*RES 3: $68.00 - Round number resistance
*RES 2: $67.73 - 2.00 projection of Nov 20 - Nov 27 rally from Dec 3 low
*RES 1: $67.59 - High Dec 30
*PRICE: $66.20 @ 06:38 GMT Jan 2
*SUP 1: $65.63 - Low Dec 31
*SUP 2: $64.80 - Low Dec 20 and key near-term support
*SUP 3: $63.56 - Low Dec 13
*SUP 4: $62.16 - Low Dec 11 and initial key support
BRENT is off recent highs however the outlook remains bullish. Futures enjoyed a
strong December, maintaining the bull rally that started on Oct 3. Price earlier
this week traded above key resistance at $67.09, Sep 16 high. A clear breach of
this hurdle would further reinforce the bullish theme and pave the way for
strength towards $67.73, a Fibonacci projection and the $68.00 handle. Initial
support is seen at $65.83, Dec 31 low.

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