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BRENT TECHS: ICE BRENT(V19): Firmer this week but....>

BRENT TECHS: ICE BRENT(V19): Firmer this week but still bearish overall
*RES 4: $62.67/95 - Trendline resistance drawn off the Jul 11 high / High Aug 2
*RES 3: $61.55/78- 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: $61.00 - High Aug 28
*PRICE: $60.15 @ 06:06 BST Aug 29
*SUP 1: $58.24 - Low Aug 26
*SUP 2: $57.67 - Low Aug 15 and key near-term support
*SUP 3: $57.11 - Low Aug 9
*SUP 4: $55.88 - Low Aug 7 and key bear trigger
Brent remains bearish despite pushing higher this week. The rejection of the Aug
21 high of $61.41 and subsequent sell-off confirmed a number of bearish set-ups
that suggest an end to the corrective recovery between Aug 7 - Aug 13. These
were, a bearish shooting star (inverted hammer) candle on Aug 21, and the
failure to clear $61.50. The focus is on the $57.67, Aug 15 low where a break
would open $55.88. Gains above $61.50 would alter the technical picture.

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