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ICE BRENT(Q19): Uptrend extends following.......>

OIL
OIL: ICE BRENT(Q19): Uptrend extends following recent reversal
*RES 4: $68.75 - Double bottom projection
*RES 3: $68.47 - 61.8% retracement of the Apr-Jun fall
*RES 2: $67.09 - 1.618 Fibonacci projection of Jun 5-Jun10 rally from Jun 12 low
*RES 1: $66.75 - 50% retracement of the Apr-Jun decline
*PRICE: $65.99 @ 06:45 BST Jun 26
*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 has traded to a fresh high today as the uptrend extends following the
recent reversal to bullish. The rally last week through former resistance at
64.10 confirmed a double bottom reversal. The most recent consolidation can also
be viewed as a bull flag, a continuation pattern. Potential is now 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. Support is at 64.00.

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