BRENT TECHS: (U19): Correction lower likely *RES.....>

BRENT TECHS: (U19): Correction lower likely

*RES 4: $67.65 - High Jul 11

*RES 3: $67.09 - High Jul 16

*RES 2: $65.28/66.31 - High Jul 17 / Former trendline drawn off the Jun 18 low

*RES 1: $64.66 - High Jul 24

*PRICE: $63.48 @ 06:22 BST Jul 26

*SUP 1: $62.59 - Low Jul 24

*SUP 2: $61.29 - Low Jul 18

*SUP 3: $60.60 - 76.4% retracement of the rally between Jun 5 and Jul 11

*SUP 4: $59.36 - Low Jun 18

Recent gains in Brent stalled on Wednesday signalling an end to the correction.

Bearish conditions remain in place following the sharp sell-off last week that

resulted in a break of trendline support drawn off the low of Jun 18. This

reversed the uptrend that had been in place since the low of Jun 5. With bearish

conditions still seen in place, a move below 61.29, the low of Jul 18 would open

60.60. Resistance is at 64.66.