BRENT TECHS: (Z19): Bullish Outlook Intact *RES 4:...>

BRENT TECHS: (Z19): Bullish Outlook Intact

*RES 4: $64.48 - High Sep 19

*RES 3: $61.92 - High Sep 26 and key resistance

*RES 2: $60.10 - High Oct 1

*RES 1: $59.68 - High Oct 7

*PRICE: $58.22 @ 06:41 BST Oct 10

*SUP 1: $56.15 - Low Oct 3

*SUP 2: $55.31 - Low Aug 7

*SUP 3: $55.00 - Round number support

*SUP 4: $54.33 - 1.236 projection of Sep 16 - Sep 18 decline from Sep 19 high

BRENT is still struggling to establish a clear direction this week. The

near-term outlook however remains marginally bullish following the bounce off

the low on Oct 3 of $56.15. This week has seen resistance at $59.50, Oct 2 high

probed however to confirm a clear break, a move above Monday's $59.68 high is

required. This would cement a S/T bullish theme and open $61.92. A break of

$56.15 would confirm a resumption of the downtrend opening $55.31.