BRENT TECHS: (J20): Bears In Control *RES 4:.........>

BRENT TECHS: (J20): Bears In Control

*RES 4: $62.05 - 50% retracement of the Jan 8 - Feb 10 decline

*RES 3: $59.94/00 - 38.2% retracement / High Feb 20

*RES 2: $57.86 - High Feb 24

*RES 1: $56.98 - High Feb 25

*PRICE: $52.78 @ 07:21 GMT Feb 27

*SUP 1: $50.87 - 123.6% retracement projection of the Oct 3 - Jan 8 rally

*SUP 2: $50.57 - 3% Lower Bollinger Band

*SUP 3: $50.00 - Round number support

*SUP 4: $48.49 - 138.2% retracement projection of the Oct 3 - Jan 8 rally

Brent has resumed its 2020 downtrend. Yesterday's sell-off resulted in a break

of the $53.11 low from Feb 10 and confirms a resumption of the bear trend. The

move lower reinforces the bearish price sequence of lower lows and lower high

and places bears firmly in control of the trend. The focus is on a move towards

$50.87 next, a Fibonacci retracement projection. On the upside, initial

resistance is seen at yesterday's $55.45 high.