BRENT TECHS: (X19): Pullback to trendline *RES 4:....>

BRENT TECHS: (X19): Pullback to trendline

*RES 4: $64.94 - High Jul 31

*RES 3: $64.05 - High Aug 1

*RES 2: $63.78 - High Sep 10 and key resistance

*RES 1: $63.27 - High Sep 11

*PRICE: $61.25 @ 06:09 BST Sep 12

*SUP 1: $60.52/60 Low Sep 11 / Former trendline resistance drawn off Jul 11 high

*SUP 2: $59.40 - Low Sep 6

*SUP 3: $58.13 - Low Sep 4

*SUP 4: $57.23 - Low Sep 3

Brent failed to hold onto recent highs and has pulled back to the former

trendline resistance drawn off the Jul 11 high, breached on Sep 5. The trendline

intersects at $60.60 and represent an important support. Recent price action has

confirmed a bullish outlook, an inability to hold above the former trendline

resistance though would expose a deeper decline. This would also confirm bearish

Japanese candle patterns that have surfaced. The key upside trigger is $63.78.