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

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.