BRENT TECHS: (K20): Remains Vulnerable *RES 4:.......>

BRENT TECHS: (K20): Remains Vulnerable

*RES 4: $50.45 - High Mar 6

*RES 3: $48.40 - Low Feb 2

*RES 2: $45.18 - Low Mar 6 and gap high of the daily chart

*RES 1: $39.70 - High Mar 11

*PRICE: $34.05 @ 07:22 GMT Mar 13

*SUP 1: $32.50 - Low Mar 12 and intraday low

*SUP 2: $31.02 - Low Mar 9 and bear trigger

*SUP 3: $29.87 - 1.764 projection of the Jan 8 - Feb 10 decline from Feb 20 high

*SUP 4: $25.90 - 2.00 projection of the Jan 8 - Feb 10 decline from Feb 20 high

Brent remains vulnerable despite the recovery earlier this week. Monday's sharp

sell-off weighs with technical readings still highlighting clear bearish

conditions. The focus is on $29.87 and $25.90, both Fibonacci projections. Note

that Monday's price action created a $38.84 - $45.18 gap on daily charts

(partially filled Wednesday). It would not be a surprise to see the market fill

the gap. Whether that happens in the near-term or later remains to be seen.