BRENT TECHS: (V19): Aug 13 high is key resistance....>

BRENT TECHS: (V19): Aug 13 high is key resistance

*RES 4: $62.23 - 50-day EMA

*RES 3: $61.78 - 61.8% retracement of the Jul 31-Aug 7 decline

*RES 2: $61.50 - High Aug 13 and key resistance

*RES 1: $59.50 - High Aug 16

*PRICE: $59.29 @ 05:49 BST Aug 19

*SUP 1: $57.67 - Low Aug 15

*SUP 2: $57.11 - Low Aug 9

*SUP 3: $55.88 - Low Aug 7 and key bear trigger

*SUP 4: $52.51 - Low Jan 2 (YTD low) (continuation)

Brent closed Friday at the lower end of last week's range. The bearish tone that

began on Jul 11 has been neutralised following the strong recovery off the Aug 7

low. However in order to adopt a firmer bullish argument, price action needs to

clear resistance at 61.50, the Aug 13 high. This would open a test of the 50-day

EMA at 62.23. Support lies at Thursday's low of 57.67 where a break would open

the key bear trigger at 55.88 once again.