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BRENT TECHS: (M20): Still Vulnerable *RES 4:.........>
BRENT TECHS: (M20): Still Vulnerable
*RES 4: $36.40 - High Apr 9 and bull trigger
*RES 3: $33.99 - High Apr 13
*RES 2: $32.32 - High Apr 14
*RES 1: $30.33 - High Apr 15
*PRICE: $27.59 @ 06 :30 BST Apr 20
*SUP 1: $26.91 - Intraday low
*SUP 2: $25.45 - Low Apr 2
*SUP 3: $24.52 - Low Apr 1 and bear trigger
*SUP 4: $24.00 - Round number support
Although consolidating, Brent remains volatile and a bearish threat has again
resurfaced. Recent gains to a high of $36.40 on Apr 9 failed to deliver any
upside follow through and this is weighing on the contract. Futures traded below
$28.25, Apr 3 low last Wednesday shifting the focus to the downside and the key
support at $24.52, Apr 1 low. A move through this support would confirm a
resumption of the 2020 downtrend. Initial resistance is seen at $30.33.
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