BRENT TECHS: (X4) Trades Through The Bear Trigger 

• RES 4: $86.24 - High Jul 5
• RES 3: $83.50 - 76.4% retracement of the Jul 5 - Aug 5 bear leg
• RES 2: $80.53/81.46 - High Aug 26 / 12 and key resistance
• RES 1: $78.32 - 20-day EMA     
• PRICE: $74.52 @ 14:40 BST Sep 3
• SUP 1: $73.16 - Low Dec 13 2023 and a key support 
• SUP 2: $70.35 - 1.382 proj of the Apr 12 - Jun 4 - Jul 5 price swing
• SUP 3: $68.99 - 1.50 proj of the Apr 12 - Jun 4 - Jul 5 price swing
• SUP 4: $67.63 - 1.618 proj of the Apr 12 - Jun 4 - Jul 5 price swing  

Brent futures have traded sharply lower today and this has resulted in a break of support at $74.62, the Aug 5 low and a bear trigger. The break confirms a resumption of the downtrend that started in April and paves the way for an extension towards $73.16, the Dec 13 ‘23 low and a key support. Moving average studies remain in a bear-mode position highlighting a dominant downtrend. Initial resistance is at $78.32, the 20-day EMA.