BRENT TECHS: (U20): Holds Onto Recent Gains *RES.....>

BRENT TECHS: (U20): Holds Onto Recent Gains

*RES 4: $46.34 - Low Mar 6 and gap high on the daily chart

*RES 3: $45.86 - 50.0% retracement of the Jan - Apr sell-off

*RES 2: $43.97 - High Jun 23 and bull trigger

*RES 1: $43.23 - High Jul 2

*PRICE: $43.08 @ 06:27 BST Jul 6

*SUP 1: $40.99 - Low Jun 30

*SUP 2: $39.70 - Low Jun 25 and the bear trigger

*SUP 3: $39.39 - 50-day EMA

*SUP 4: $37.29 -Low Jun 12 and the reversal trigger

Brent futures continued to edge higher last week. While the near-term outlook

remains positive, a bearish risk is still present following the sell-off between

Jun 23 - 25. The pullback marked a failure to extend gains beyond the former key

resistance at $43.48, Jun 8 high. A break of support at $39.70, Jun 25 low would

trigger fresh weakness and also confirm a breach of trendline support drawn off

the Apr 28 low. Key resistance and the bull trigger is $43.97.