BRENT TECHS: (J20): Focus on $59.58 *RES 4: $64.16...>

BRENT TECHS: (J20): Focus on $59.58

*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: $59.84/94 - High Jan 29/ 38.2% retracement - key near-term resistance

*RES 1: $58.58 - High Jan 31

*PRICE: $58.19 @ 08:05 GMT Feb 19

*SUP 1: $56.30 - Low Feb 18

*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 has continued its march higher and has reached new highs for the month of

February. Focus remains on the Jan 29 high of $59.84. Momentum studies have

moved out of a previous oversold position and continue to trend higher,

reinforcing the positive theme. On the downside, key support has been defined at

$53.11, Feb 10 low. Initial support lies at $54.96.