ICE BRENT: (J18) Trading Below 200-WMA....>

OIL TECHS: ICE BRENT: (J18) Trading Below 200-WMA

*RES 4: $67.71 - High Feb 7 

*RES 3: $66.53 - Low Feb 6 now resistance 

*RES 2: $65.81 - 55-DMA 

*RES 1: $64.97 - Hourly resistance Feb 8

*PRICE: $64.31 @ 0430GMT

*SUP 1: $64.10 - Low Feb 8 

*SUP 2: $62.49 - 100-DMA 

*SUP 3: $60.69 - Monthly Low Nov 17 

*SUP 4: $59.32 - Low Oct 30

*COMMENTARY: The correction lower from 2018 highs now sees the contract trading

below the 200-WMA ($64.59) with immediate focus now on the 100-DMA. Bears look

for a close below the 100-DMA to shift focus to $57.08-60.69 where the 200-DMA

is noted. Bulls now need a close above $66.53 to confirm a break of the 55-DMA

and ease bearish pressure. Bulls then need a close above the 21-DMA ($68.40) to

shift focus back to $70.02-78.