BRENT TECHS: (Z19): Consolidating But Remains........>

BRENT TECHS: (Z19): Consolidating But Remains Bullish

*RES 4: $63.24 - 50.0% retracement of Sep 16 - Oct 3 decline

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

*RES 2: $61.56 - 38.2% retracement of Sep 16 - Oct 3 decline

*RES 1: $60.73 - High Oct 14 and near-term bull trigger

*PRICE: $58.83 @ 06:28 BST Oct 22

*SUP 1: $58.00 - Low Oct 15

*SUP 2: $57.38 - Low Oct 8 and key intraday support

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

*SUP 4: $55.31 - Low Aug 7

BRENT is unchanged and consolidating. The outlook however remains bullish. The

recovery off last Tuesday's low is mildly encouraging for bulls and attention

remains on the Oct 14 high of $60.73. A break would reinforce the near-term

bullish outlook and open the 38.2% retracement at $61.56 and the 50% level at

$63.24. Prices need to hold above firm support at $57.38, Oct 8 low. A failure

would expose the key bear trigger at $56.15.