ICE BRENT(Q19): Double bottom reversal....>

OIL TECHS: ICE BRENT(Q19): Double bottom reversal confirmed last week

*RES 4: $69.23 - High may 28

*RES 3: $68.47 - 61.8% retracement of the Apr-Jun fall

*RES 2: $66.75 - 50% retracement of the Apr-Jun decline

*RES 1: $65.91 - Low May 23

*PRICE: $64.66 @ 07:11 BST Jun 25

*SUP 1: $64.00 - Low Jun 21 and close to the former 64.10 breakout point

*SUP 2: $62.40 - Low Jun 20

*SUP 3: $60.25 - Low Jun 18

*SUP 4: $59.45 - Low June 5

Brent bullish outlook remains intact. The rally last week through former

resistance at 64.10 confirmed a double bottom reversal paving the way for a

stronger push higher near-term. The most recent consolidation can also be viewed

as a bull flag, a continuation pattern. Potential is seen for a move to 66.75,

the 50%retracement of the Apr 25-Jun 4 decline. 68.75 represents the double

bottom projection and is a target further out. Initial support is at 64.00.