BRENT TECHS: (V19): Potential for a Move Lower.......>

BRENT TECHS: (V19): Potential for a Move Lower Reignited

*RES 4: $68.28 - High May 28 (continuation chart)

*RES 3: $67.65 - High Jul 11 (continuation chart) and key resistance

*RES 2: $67.09 - High Jul 16 (continuation chart)

*RES 1: $65.28/42 - High Jul 17/Intraday high

*PRICE: $64.34 @ 07:25 BST Aug 1

*SUP 1: $63.78 - Low Jul 30

*SUP 2: $62.49 - Low Jul 24

*SUP 3: $61.29 - Low Jul 18 (continuation chart)

*SUP 4: $60.60 - 76.4% retracement of the rally between Jun 5 and Jul 11

After moving higher over the past few days, Brent has given back some of its

gains after the Fed last night as the dollar moved higher. This has once again

increased the potential for a move lower that had appeared likely earlier this

week. Support has been defined at $62.49, a return below this level is required

to get bears excited again and target the bear trigger at $61.29. Initial

resistance at $65.28/42 is the key for bulls to begin to reassert some control.