BRENT TECHS: (J20): Potential Reversal? *RES 4:......>

BRENT TECHS: (J20): Potential Reversal?

*RES 4: $61.92 - High Jan 23

*RES 3: $59.84 - High Jan 29 and key near-term resistance

*RES 2: $58.58 - High Jan 31

*RES 1: $56.83 - High Feb 13

*PRICE: $56.32 @ 06:38 GMT Feb 14

*SUP 1: $54.39 - Low Feb 12

*SUP 2: $53.11 - Low Feb 10 and key support

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

*SUP 4: $50.00 - Round number support

BRENT registered a fresh trend low print on Monday at 53.11 however futures have

since bounced rebounded. The downtrend is potentially in the early stages of a

reversal. Price has probed initial key resistance at $56.58, the Feb 6 high. A

clear break of this level would confirm a shift in sentiment and open $59.84,

the Jan 29 high. On the downside, key support has been defined at $53.11, a

break would once again resume this year's sell-off.