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BRENT TECHS: (Q19): Breaking Lower Again *RES 4:.....>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (Q19): Breaking Lower Again
*RES 4: $66.67 - May 29 Low
*RES 3: $64.91 - High May 31
*RES 2: $62.84 - High June 3
*RES 1: $62.27 - High June 5
*PRICE: $60.67 @ 05:35 GMT Jun 6
*SUP 1: $59.45 - Low June 5
*SUP 2 :$58.99 - Low Nov 29
*SUP 3: $56.53 - High Dec 26
*SUP 4: $51.43 - Low Dec 26
After only the briefest of pauses to the recent sharp downtrend Tuesday, Brent
futures have accelerated lower again to test and slight breach the important
$59.68 support. A sustained break below here and $58.99 will weaken the
technical outlook further, putting the focus on the medium term support at
$56.53. Although now in oversold territory, momentum indicators continue to head
lower, consistent with the downtrend extending further.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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