BRENT TECHS: (U20): Holds Onto This Week's Gains.....>

BRENT TECHS: (U20): Holds Onto This Week's 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: $42.65 @ 06:36 BST Jul 3

*SUP 1: $40.99 - Low Jun 30

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

*SUP 3: $39.25/37.29 - 50-day EMA / Low Jun 12 and the reversal trigger

*SUP 4: $35.33 - Low May 29

Brent futures continue to edge higher this week. A bearish risk however still

remains following last week's sell-off from $43.97 on Jun 23. 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.