BRENT TECHS: (Z19): Consolidating *RES 4: $63.24 -...>

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.