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BRENT TECHS: (Z19): Consolidating
*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: $59.40 @ 06:23 BST Oct 23
*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 still unchanged and continues to consolidate. The outlook however
remains bullish although, a break of resistance at $60.73, Oct 14 high is
required to trigger a resumption of gains. A break would open the 38.2%
retracement of Sep 16 - Oct 3 decline at $61.56 and the 50% level at $63.24. On
the downside, prices need to hold above firm support at $57.38, Oct 8 low. A
failure would expose the key bear trigger at $56.15.