BRENT TECHS: ICE BRENT(U19): Bull trend resumes......>

BRENT TECHS: ICE BRENT(U19): Bull trend resumes

*RES 4: $69.10 - High May 23

*RES 3: $67.69 - 61.8% retracement of the Apr 25-Jun 5 decline

*RES 2: $67.56 - Double bottom projection

*RES 1: $67.38 - Intraday high

*PRICE: $67.04 @ 06:48 BST Jul 11

*SUP 1: $65.00 - Round number support

*SUP 2: $64.63 - Low Jul 10

*SUP 3: $63.58 - Trendline support drawn off the low of Jun 18

*SUP 4: $62.91 - Low Jul 5

Brent is firmer once again and has confirmed a 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 67.89. Clearance of this objective would open

69.10, the high of May 23 ahead of the 76.4% retracement at 69.88. Momentum

studies have once also resumed a bullish position. On the downside, yesterday's

low of 64.63 marks support.