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

BRENT TECHS: (Z19): Bullish Outlook Intact

*RES 4: $64.91 - 61.8% retracement of Sep 16 - Oct 3 decline

*RES 3: $64.48 - High Sep 19

*RES 2: $63.24 - 50.0% retracement of Sep 16 - Oct 3 decline

*RES 1: $61.90/92 - High Oct 24 / High Sep 26

*PRICE: $61.30 @ 06:28 BST Oct 25

*SUP 1: $58.85 - Low Oct 23

*SUP 2: $58.00 - Low Oct 15 and key intraday support

*SUP 3: $57.38 - Low Oct 8

*SUP 4: $56.15 - Low Oct 3 and primary bear trigger

BRENT was firmer again yesterday extending this weeks rally that has seen prices

finally trade above resistance at $60.73, Oct 14 high. The breach of this level

reinforced the bullish theme and paves the way for stronger gains. Note too, the

38.2% retracement of Sep 16 - Oct 3 decline at $61.56 has also been breached.

The focus is on the 50% level at $63.24. Firm support has been established at

$58.00. Initial support though is at $58.85, Oct 23 low.