BRENT TECHS: (U20): Corrective Pullback *RES 4:......>

BRENT TECHS: (U20): Corrective Pullback

*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: $43.46 @ 06:25 BST Jul 24

*SUP 1: $43.13 - Low Jul 23

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

*SUP 3: $41.32 - Low Jul 10

*SUP 4: $41.08 - 50-day EMA

Brent futures remain bullish although the contract has found resistance for now

at $44.89, Tuesday's high. This week's gains resulted in a breach of former key

resistance at $43.97, Jun 23 high. This confirmed a resumption of the uptrend

that has been in place since Apr 22. It 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.