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

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

*RES 4: $62.13 - 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: $59.92 - High Aug 19

*PRICE: $59.76 @ 06:01 BST Aug 20

*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 has started the week on a firmer note. 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 still need to clear

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

at $62.04. Support lies at last Thursday's low of $57.67, where a break would

open the key bear trigger at $55.88 once again.