BRENT TECHS: (H20): Volatile *RES 4: $72.76 -........>

BRENT TECHS: (H20): Volatile

*RES 4: $72.76 - 3.236 projection of Nov 20 - Nov 27 rally from Dec 3 low

*RES 3: $72.00 - Round number resistance

*RES 2: $71.80 - 3.00 projection of Nov 20 - Nov 27 rally from Dec 3 low

*RES 1: $71.75 - High Jan 6

*PRICE: $68.99 @ 06:37 GMT Jan 8

*SUP 1: $67.65 - Low Jan 7

*SUP 2: $67.59 - High Dec 30

*SUP 3: $66.22 - Low Jan 3

*SUP 4: $65.63 - Low Dec 31 and key near-term support

BRENT spiked higher overnight before selling off sharply. Price action remains

volatile however despite this volatility, a bullish outlook is maintained. This

follows the recent break of $67.59, Dec 30 high that once again confirmed a

resumption of the uptrend that has been in place since early October. Attention

is on $71.80 next, a Fibonacci projection level. Initial support lies at $67.65,

the Jan 7 low.