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BRENT TECHS: (X18) Testing $80 Yet Again
*RES 4: $95.00 - Channel top
*RES 3: $90.00 - Resistance
*RES 2: $87.00 - Measured move breakout target
*RES 1: $80.13 - High Sep 12
*PRICE: $79.83 @ 06:17 GMT
*SUP 1: $78.05 - 21-dma
*SUP 2: $75.38 - 55-dma
*SUP 3: $70.67 - Low August 15
*SUP 4: $69.24 - Low April 18
Brent tested its Sep 12 high on Friday before closing back below $80 but once
again looks set to test this level today. A close above $80.13 would trigger a
large bullish breakout and open up the $87.00 level as the measured move target
from the bull flag formation. Bears target the 21-dma at $78.05, a break below
here would shift the outlook back to neutral, while below the 55-dma at $75.38
would return the focus to the downside.