BRENT TECHS: (Q20): Mature Uptrend? *RES 4: $45.98...>

BRENT TECHS: (Q20): Mature Uptrend?

*RES 4: $45.98 - Low Mar 6 and gap high on the daily chart

*RES 3: $45.20 - 50.0% retracement of the Jan - Apr sell-off

*RES 2: $43.93 - High Jun 23 and bull trigger

*RES 1: $42.89 - High Jun 24

*PRICE: $40.00 @ 06:30 BST Jun 25

*SUP 1: $38.95 - Low Jun 16

*SUP 2: $38.08/37.01 - 50-day EMA / Low Jun 12 and the bear trigger

*SUP 3: $34.84 - Low May 29

*SUP 4: $34.35 - Low May 28

Brent futures stalled at Tuesday high of $43.93. The sharp pullback marks a

failure to extend gains following this week's break of former key resistance at

$43.41, Jun 8 high. The outlook is bearish and attention turns to key support at

$37.01, Jun 12 low. A break of this level is required to highlight a more

convincing reversal. On the upside, clearance of $43.93 is required to ease the

developing bearish threat.