BRENT TECHS: (Z19): Focus Is On Bullish Bounce.......>

BRENT TECHS: (Z19): Focus Is On Bullish Bounce

*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

*PRICE: $58.83 @ 06:38 BST Oct 16

*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 key support

*SUP 4: $55.31 - Low Aug 7

BRENT managed to find support off the day low yesterday. This offers an early

signal the recent selling pressure has abated. A bullish outlook remains intact

with the focus on Monday's high of $60.73. A break here would reinforce the

near-term bullish outlook and open the 38.2% retracement at $61.56 and the 50%

level at $63.24. For bulls, prices need to hold above firm support at $57.38,

Oct 8 low. A failure would expose the key support at $56.15.