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BRENT TECHS: (J20): Finding Support? *RES 4:.........>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (J20): Finding Support?
*RES 4: $64.16 - 61.8% retracement of the Jan 8 - Feb 10 decline
*RES 3: $62.05 - 50% retracement of the Jan 8 - Feb 10 decline
*RES 2: $59.94/00 - 38.2% retracement / High Feb 20
*RES 1: $57.86 - High Feb 24
*PRICE: $56.86 @ 07:20 GMT Feb 25
*SUP 1: $55.13 - Low Feb 25
*SUP 2: $54.96 - Low Feb 13
*SUP 3: $53.11 - Low Feb 10 and key support
*SUP 4: $50.87 - 123.6% retracement projection of the Oct 3 - Jan 8 rally
Brent stalled last week at $60.00 and edged lower again yesterday but appears to
have found support for now. The failure at $60.00 also marks a failure at the
38.2% retracement of the Jan 8 - Feb 10 decline at $59.94. For now, the move
lower is viewed as a correction. Yesterday's $55.13 low marks support. An
ability to hold above this level would signal scope for a return to retest
$60.00. A break lower though would expose $54.39.

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