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BRENT TECHS: (M19): Break Of $70 Fails To Hold.......>

BRENT TECHS: (M19): Break Of $70 Fails To Hold
*RES 4: $75.36 - Low Oct 25 
*RES 3: $72.68 - 61.8% retracement 
*RES 2: $70.30 - Low Aug 15 
*RES 1: $70.03 - High Apr 4 
*PRICE: $69.12 @ 03:54 GMT Apr 5 
*SUP 1: $68.87 - Low Apr 4 
*SUP 2: $65.93 - Low March 28 
*SUP 3: $65.65 - 50-dma 
*SUP 4: $64.02/63.81/63.63 - Low Mar 8/23.6% retracement/High Feb 4 
Brent futures extended their rally as high at $70.03 yesterday but the break was
short lived. Bears now look for a break below yesterday's low at $68.87 to
suggest a deeper pullback to the March 28 low at $65.93. A break below here
would suggest a potential downside reversal towards the 50-dma at $65.65. Bulls
need a close above $70 to target the Aug 15 low at $70.30. Above here brings the
61.8% retracement into view at $72.68.

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