BRENT TECHS: (U20): Bulls Still In Charge *RES 4:....>

BRENT TECHS: (U20): Bulls Still In Charge

*RES 4: $48.69 - Low Mar 2

*RES 3: $46.34 - Low Mar 6 and gap high on the daily chart

*RES 2: $45.86 - 50.0% retracement of the Jan - Apr sell-off

*RES 1: $44.89 - High Jul 21

*PRICE: $44.32 @ 06:38 BST Jul 23

*SUP 1: $43.16 - Low Jul 21

*SUP 2: $42.36 - Low Jul 20 and key intraday support

*SUP 3: $41.32 - Low Jul 10

*SUP 4: $40.99 - 50-day EMA

Brent futures remain bullish. The contract traded higher Monday and breached the

former key resistance at $43.97, Jun 23 high. The move through this hurdle

confirmed a resumption of the uptrend that has been in place since the reversal

on Apr 22. This sets the scene for an extension higher towards $45.86, a

Fibonacci retracement and $46.34 further out. On the downside, initial firm

support has been defined at $42.36, Jul 20 low.