ICE BRENT(U19): Bearish corrective........>

OIL TECHS: ICE BRENT(U19): Bearish corrective threat remains

*RES 4: $67.56 - Double bottom projection

*RES 3: $67.00 - Round number resistance

*RES 2: $66.75 - High Jul 1

*RES 1: $65.51 - High Jul 2

*PRICE: $64.23 @ 06:15 BST Jul 8

*SUP 1: $62.91 - Low Jul 5

*SUP 2: $62.09 - Low Jul 3

*SUP 3: $61.60 - 61.8% retracement of the Jun 5-Jul 1 rally

*SUP 4: $60.39 - 76.4% retracement of the Jun 5-Jul 1 rally

Brent rallied on Friday following the payrolls release. For now though, it

remains heavy following the recent sell-off and failure on Jul 1 to overcome the

50% retracement of the Apr 25-Jun 5 decline at 65.92 on a closing basis. The

move lower is being treated as a correction that could extend to the 61.8%

retracement level at 61.60. A break would highlight a stronger bearish theme and

expose 58.42, the Jun 5 low. On the upside, initial resistance is at 65.51.