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BRENT TECHS: (J20): Focus on $59.84 *RES 4: $64.16...>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (J20): Focus on $59.84
*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: $58.32 @ 07:48 GMT Feb 20
*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 in the Asian session has reached
another new high 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.

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