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BRENT TECHS: ICE BRENT(U19): Bull flag formation.....>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: ICE BRENT(U19): Bull flag formation
*RES 4: $69.88 - 76.4% retracement of the Apr 25-Jun 5 decline
*RES 3: $69.10 - High May 23
*RES 2: $68.28 - High May 28
*RES 1: $67.65/69 - High July 11 / 61.8% of the Apr 25-Jun 5 decline
*PRICE: $66.61 @ 06:18 BST Jul 15
*SUP 1: $66.36 - Intraday low
*SUP 2: $66.00 - Round number support
*SUP 3: $64.63 - Low Jul 10
*SUP 4: $64.08 - Trendline support drawn off the low of Jun 18
Brent is firm following last Wednesday's confirmed resumption of the uptrend
that began in early Jun. The move above former resistance at 66.75 brings into
focus the 61.8% retracement level at 67.69. Clearance of this objective would
open 69.10, the high of May 23 ahead of the 76.4% retracement at 69.88. Very
recent price action has taken on the appearance of a bull flag formation,
reinforcing the uptrend. On the downside, 64.63 marks support.

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