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BRENT TECHS: (V18) Recoveries Lack Momentum *RES.....>

BRENT TECHS, DOLLAR-SING
BRENT TECHS: (V18) Recoveries Lack Momentum
*RES 4: $75.79 - High July 30 
*RES 3: $74.87 - High Aug 8 
*RES 2: $74.43 - 55-DMA 
*RES 1: $73.93 - High Aug 14 
*PRICE: $72.22 @ 05:06 GMT 
*SUP 1: $70.30 - Low August 15 
*SUP 2: $69.64 - Low April 18 
*SUP 3: $69.06 - High April 10 now support 
*SUP 4: $68.90 - 200-DMA 
While Brent managed to trade above Friday's high yesterday it has failed to hold
its gains and the rise appears corrective in nature. The August 14 high of
$73.93 remains a key hurdle for the bulls to overcome if they are to regain the
momentum. Below this level bears will remain focused on the August 15 low at
$70.30 and the 200-dma, which comes in at $68.90. A break below here would shift
the medium-term outlook bearish.

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