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BRENT TECHS: ICE BRENT(V19): Failure at $61.50.......>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: ICE BRENT(V19): Failure at $61.50 weighs
*RES 4: $63.06 - Trendline resistance drawn off the Jul 11 high
*RES 3: $62.95 - High Aug 2
*RES 2: $61.78/80 - 61.8% retracement of the Jul 31 - Aug 7 decline / 50-day EMA
*RES 1: $61.41/50 - High Aug 21 / High Aug 13 and key resistance
*PRICE: $58.80 @ 06:48 BST Aug 26
*SUP 1: $58.24 - Intraday low
*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 sold off sharply Friday but did rebound off the days low. The sell-off
follows a number of recent bearish set-ups that warned of an end to the recent
corrective recovery. A bearish candle formation, a shooting star (inverted
hammer) last Wednesday, and the failure to clear $61.50 are weighing on
Brent.The focus turns to support at $57.67, the Aug 15 low. A move above $61.50
is required to negate the bearish pattern and reinstate the recent recovery.

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