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ICE BRENT: (J18) Above $70.05 To..........>

OIL TECHS
OIL TECHS: ICE BRENT: (J18) Above $70.05 To Reconfirm Bullish Bias
*RES 4: $73.41 - High Nov 28 2014 
*RES 3: $70.56 - Bollinger band top 
*RES 2: $70.05 - 2018 High Jan 11 (G18) 
*RES 1: $69.94 - High Jan 15
*PRICE: $69.36 @ 0430GMT
*SUP 1: $69.12 - Hourly resistance Jan 23 now support 
*SUP 2: $68.69 - Hourly support Jan 22 
*SUP 3: $67.94 - 21-DMA 
*SUP 4: $67.72 - High Jan 4 now support
*COMMENTARY: The correction lower from $69.94 found support ahead of the key
$66.74-67.72 support region with the recovery seeing pressure back on 2018
highs. Bulls continue to look for a close above $70.05 to reconfirm the bullish
bias and initially target $73.41. Bears now look for a close below $68.69 to
gain breathing room and below $67.72 to confirm a break of the 21-DMA and hint
at a move back to the 55-DMA $64.58 with below $66.74 confirming.

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