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BRENT TECHS: (J19): Stuck In Range
*RES 4: $71.54 - 200-dma (continuation chart)
*RES 3: $64.61 - Low Nov 13 (continuation chart)
*RES 2: $63.73 - High Dec 7 (continuation chart)
*RES 1: $63.63 - High Feb 4
*PRICE: $61.27 @ 05:52 GMT Feb 8
*SUP 1: $60.60 - Low Feb 7
*SUP 2: $58.90 - Low Jan 14 (continuation chart)
*SUP 3: $49.93 - Low Dec 26 (continuation chart)
*SUP 4: $44.35 - Low Jun 21, 2017 (continuation chart)
Brent futures edged back down to the lower end of their range yesterday,
breaking below their 21dma to bring the $60 level back into play. Bears need to
clear yesterday's low at $60.60 to open the Jan 14 low at $58.90, below which
the outlook would turn bearish. Bulls target the Feb 4/Dec 7 highs at $63.63/73,
above which brings the Nov 13 low at $64.61 into view.