BRENT TECHS: ICE BRENT(V19): Bearish pressure........>

BRENT TECHS: ICE BRENT(V19): Bearish pressure still likely near-term

*RES 4: $62.80/95 - Trendline resistance drawn off the Jul 11 high / High Aug 2

*RES 3: $61.59/78- 50-day EMA / 61.8% retracement of the Jul 31

*RES 2: $61.41/50 - High Aug 21 / High Aug 13 and key resistance

*RES 1: $60.29 - High Aug 23

*PRICE: $59.92 @ 06:03 BST Aug 28

*SUP 1: $58.24 - Low Aug 26

*SUP 2: $57.67 - Low Aug 15 and key intraday support

*SUP 3: $57.11 - Low Aug 9

*SUP 4: $55.88 - Low Aug 7 and key bear trigger

Brent conditions are likely to remain bearish. The rejection of the Aug 21 high

of $61.41 and subsequent sell-off, followed a number of recent bearish set-ups

that warned of an end to the corrective recovery between Aug 7 - Aug 13. These

were, a bearish shooting star (inverted hammer) candle last Wednesday, and the

failure to clear $61.50.The focus is on $57.67, Aug 15 low where a break would

open $55.88. Gains above $61.50 would change the technical picture.